In this article we discuss the 5 best dividend stocks to buy now according to billionaire Jim Simons. If you want to read our detailed analysis of Simons.
10 Best High Yield Dividend Stocks to Buy According to Billionaire Jim Simons
James Harris Simons, popularly known as Jim Simons, is one of the most iconic figures in hedge fund history. He started his career as a mathematician before diving into finance in the late 1970s. He founded New York-based Renaissance Technologies in 1982, a hedge fund that uses quantitative analysis to pick out trading opportunities in the financial markets.
Billionaire Jim Simons’ Hedge Fund’s Performance
Renaissance Technologies relies on quantitative techniques that are based on statistical and mathematical models to achieve systematic trading. It is currently one of the most successful hedge funds. To put its success to perspective, its founder, Jim Simons’ wealth is estimated to be around $23.5 billion, making him one of the top 30 richest people in the U.S.
5 Best High Yield Dividend Stocks to Buy According to Billionaire Jim Simons
Dividend Yield: 14.47%
Orchid Island primarily focuses on mortgage-backed securities (RMBS) with a strategy oriented towards structured agency RMBS and traditional pass-through Agency RMBS. Of the 800 funds tracked by Insider Monkey, 10 reported having stakes in the company at the end of 2020, including D E Shaw, which owns 1.15 million Orchid shares.
Orchid Island Capital announced a $0.065 per share monthly dividend for April 2021, which aligns with the company’s previously announced dividend. This puts Orchid in the list of the best high yield dividend stocks.
It has an estimated $0.34 per share GAAP net loss for the March 31 quarter. Its unrealized and net realized loss on derivative instruments and RMBS is $0.60 per share.