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Do you like to follow smart money buying trends? If so, you may be interested in a screen we ran for a look at stocks currently favored by smart money institutional investors.

We began by screening the biotech industry for stocks that are rallying above their 20-day, 50-day, and 200-day moving averages, indicating that these stocks have strong upward momentum.

We then screened for those with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform into the future.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Do you think these stocks are poised to outperform? Use this list as a starting point for your own analysis.

List sorted by net institutional purchases over the last quarter as a percent of share float.

1. Summit Hotel Properties, Inc. (INN): Engages in acquiring, owning, renovating, repositioning, and asset-managing and selling premium-branded limited-service and select-service hotels in the upscale and midscale without food and beverage segments of the United States' lodging industry. Market cap at $365.83M, most recent closing price at $8.41. The stock is currently trading 8.44% above its 20-day moving average, 6.45% above its 50-day moving average, and 72.08% above its 200-day moving average.

Net institutional purchases in the current quarter at 9.2M shares, which represents about 20.05% of the company's float of 45.88M shares.

2. Flagstar Bancorp Inc. (FBC): Operates as the holding company for Flagstar Bank, FSB that offers consumer and commercial financial products and services to individuals, and small and middle market businesses in Michigan, Indiana, and Georgia. Market cap at $925.1M, most recent closing price at $16.57. The stock is currently trading 8.38% above its 20-day moving average, 26.81% above its 50-day moving average, and 70.75% above its 200-day moving average.

Net institutional purchases in the current quarter at 3.5M shares, which represents about 17.79% of the company's float of 19.67M shares.

3. Health Care REIT, Inc. (HCN): Engages in investment, development, and management of properties. Market cap at $15.7B, most recent closing price at $60.45. The stock is currently trading 1.49% above its 20-day moving average, 2.47% above its 50-day moving average, and 6.74% above its 200-day moving average.

Net institutional purchases in the current quarter at 28.9M shares, which represents about 11.18% of the company's float of 258.59M shares.

4. Provident New York Bancorp (PBNY): Operates as the holding company for Provident Bank that provides commercial, community, and retail banking products and services to businesses and individuals in New York and New Jersey. Market cap at $397.35M, most recent closing price at $9.0. The stock is currently trading 2.25% above its 20-day moving average, 0.11% above its 50-day moving average, and 9.62% above its 200-day moving average.

Net institutional purchases in the current quarter at 3.0M shares, which represents about 9.96% of the company's float of 30.11M shares.

5. Presidential Life Corp. (PLFE): Through its subsidiary, Presidential Life Insurance Company engages in the marketing and sale of various fixed annuity, life insurance, and accident and health insurance products in the United States. Market cap at $413.08M, most recent closing price at $13.96. The stock is currently trading 1% above its 20-day moving average, 0.12% above its 50-day moving average, and 16.47% above its 200-day moving average.

Net institutional purchases in the current quarter at 2.5M shares, which represents about 9.34% of the company's float of 26.77M shares.

6. Pacific Capital Bancorp (PCBC): Provides a range of commercial and consumer banking services to households, professionals, and businesses primarily in the central coast of California. Market cap at $1.51B, most recent closing price at $45.93. The stock is currently trading 0.17% above its 20-day moving average, 0.15% above its 50-day moving average, and 5.32% above its 200-day moving average.

Net institutional purchases in the current quarter at 354.6K shares, which represents about 8.61% of the company's float of 4.12M shares.

*Institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 6 Rallying Financial Stocks Being Snapped By Hedge Funds