Hedge Fund Trade Of The Week (STX)

Anthony Scaramucci is on CNBC with his Hedge Fund trade of the week, and the trade is Seagate Technology (NASDAQ: STX).

Scaramucci likes the name because it has a 30% market share in the disk drive network, it has $6 in cash and Scaramucci said that Whitney Tilson, of T2 Partners is also in the name.

If Seagate does well, traders might also look at shares of competitor Western Digital (NYSE: WDC) for some sympathy action.

At last check, shares of STX are up 43 cents to $13.93, a gain of 3.2%.

Seagate Technology Public Limited Company designs, manufactures, markets, and sells hard disk drives for the enterprise, client compute, and client non-compute market applications in the United States and internationally.

Anthony Scaramucci runs SkyBridge Capital, a $6 billion fund of funds.