The following is a list of stocks in a new uptrend, as defined by the Average Directional Index, or ADX(14) index. All of these stocks have seen significant institutional buying over the last 3 months.
To create the list, we started with a universe of stocks in an uptrend that have an ADX(14) value above +20, which signals strengthening upward momentum. We then reduced the size of this universe by only focusing on stocks that have seen institutional investors increase holdings by more than 6% over the last 3 months.
ADX data sourced from Stockcharts.com, institutional data sourced from Reuters.
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The list has been sorted by change in institutional ownership over the last 3 months.
1. American Capital Agency Corp. (AGNC): REIT. Market cap of $997M. Daily ADX Line(14) at 21.101. Institutional investors currently own 11,431,732 shares vs. 9,326,489 shares held 3 months ago (+22.57% change). The stock has gained 27.45% over the last year.
2. Align Technology Inc. (ALGN): Medical Appliances & Equipment Industry. Market cap of $1,469B. Daily ADX Line(14) at 20.85. Institutional investors currently own 69,670,683 shares vs. 58,594,281 shares held 3 months ago (+18.9% change). The stock has gained 42.78% over the last year.
3. Akorn Inc. (AKRX): Diagnostic Substances Industry. Market cap of $369M. Daily ADX Line(14) at 21.002. Institutional investors currently own 43,860,094 shares vs. 38,121,898 shares held 3 months ago (+15.05% change). The stock has gained 187.59% over the last year.
4. Prudential plc (PUK): Life Insurance Industry. Market cap of $24,275B. Daily ADX Line(14) at 20.221. Institutional investors currently own 26,900,354 shares vs. 24,462,351 shares held 3 months ago (+9.97% change). The stock has gained 6.7% over the last year.
5. Frontier Communications Corporation (FTR): Telecom Services. Market cap of $7,896B. Daily ADX Line(14) at 20.248. Institutional investors currently own 186,945,249 shares vs. 170,237,387 shares held 3 months ago (+9.81% change). The stock has gained 25.95% over the last year.
6. Blount International Inc. (BLT): Housewares & Accessories Industry. Market cap of $588M. Daily ADX Line(14) at 20.044. Institutional investors currently own 47,202,780 shares vs. 43,047,072 shares held 3 months ago (+9.65% change). The stock has gained 27.39% over the last year.
7. J. C. Penney Company, Inc. (JCP): Department Stores Industry. Market cap of $5,769B. Daily ADX Line(14) at 20.298. Institutional investors currently own 241,659,704 shares vs. 220,570,275 shares held 3 months ago (+9.56% change). The stock has lost -25.22% over the last year.
8. Jones Apparel Group, Inc. (JNY): Apparel Stores Industry. Market cap of $1,627B. Daily ADX Line(14) at 20.355. Institutional investors currently own 89,043,693 shares vs. 81,410,238 shares held 3 months ago (+9.38% change). The stock has gained 2.64% over the last year.
9. International Assets Holding Corporation (IAAC): Asset Management Industry. Market cap of $318M. Daily ADX Line(14) at 20.905. Institutional investors currently own 7,994,994 shares vs. 7,345,473 shares held 3 months ago (+8.84% change). The stock has gained 7.12% over the last year.
10. hhgregg, Inc. (HGG): Electronics Stores Industry. Market cap of $931M. Daily ADX Line(14) at 20.379. Institutional investors currently own 37,589,524 shares vs. 35,363,564 shares held 3 months ago (+6.29% change). The stock has gained 57.05% over the last year.
Disclosure: No positions
