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The following is a list of stocks in a new uptrend, as defined by the Average Directional Index, or ADX(14) index. In addition, all of these stocks have seen significant institutional buying over the last three 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 narrowed down the list by only focusing on the stocks being chased by big money managers.

Institutional investors expect these rallies to gain more momentum, what do you think? Full analysis below.

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The list has been sorted by change in institutional ownership over the last three months.

1. Agnico-Eagle Mines Ltd. (AEM): Gold Industry. Market cap of $13.47B. ADX Line(14) at 20.315. Institutional investors currently own 136,225,799 vs. 123,544,737 shares held three months ago (10.26% change). Short float at 4.9%, which implies a short ratio of 3.75 days. The stock has gained 42.22% over the last year.

2. Weyerhaeuser Co. (WY): Lumber, Wood Production Industry. Market cap of $9.11B. ADX Line(14) at 20.75. Institutional investors currently own 187,777,176 vs. 171,172,914 shares held three months ago (9.7% change). Short float at 3.36%, which implies a short ratio of 3.62 days. The stock has gained 26.96% over the last year.

3. Dick's Sporting Goods Inc. (DKS): Sporting Goods Stores Industry. Market cap of $3.44B. ADX Line(14) at 21.253. Institutional investors currently own 99,239,463 vs. 91,754,097 shares held three months ago (8.16% change). Short float at 10.68%, which implies a short ratio of 7.99 days. The stock has gained 22.68% over the last year.

4. Acme Packet, Inc. (APKT): Communication Equipment Industry. Market cap of $2.66B. ADX Line(14) at 20.3. Institutional investors currently own 52,701,523 vs. 49,675,327 shares held three months ago (6.09% change). Short float at 5.1%, which implies a short ratio of 1.92 days. The stock has gained 340.53% over the last year.

5. Modine Manufacturing Company (MOD): Auto Parts Industry. Market cap of $682.25M. ADX Line(14) at 20.954. Institutional investors currently own 41,721,193 vs. 40,151,379 shares held three months ago (3.91% change). Short float at 3.5%, which implies a short ratio of 4.86 days. The stock has gained 54.52% over the last year.

6. iGATE Corporation (IGTE): Information Technology Services Industry. Market cap of $1.17B. ADX Line(14) at 20.806. Institutional investors currently own 25,605,762 vs. 25,041,442 shares held three months ago (2.25% change). Short float at 6.91%, which implies a short ratio of 3.59 days. The stock has gained 134.61% over the last year.

7. Westlake Chemical Corp. (WLK): Specialty Chemicals Industry. Market cap of $2.39B. ADX Line(14) at 20.364. Institutional investors currently own 21,857,343 vs. 21,418,868 shares held three months ago (2.05% change). Short float at 9.59%, which implies a short ratio of 8.35 days. The stock has gained 50.1% over the last year.

8. Novellus Systems, Inc. (NVLS): Semiconductor Equipment & Materials Industry. Market cap of $2.81B. ADX Line(14) at 21.937. Institutional investors currently own 89,678,668 vs. 88,096,769 shares held three months ago (1.8% change). Short float at 6.95%, which implies a short ratio of 2.97 days. The stock has gained 54.32% over the last year.

9. Center Financial Corporation (CLFC): Savings & Loans Industry. Market cap of $228.23M. ADX Line(14) at 20.073. Institutional investors currently own 25,096,286 vs. 24,707,353 shares held three months ago (1.57% change). Short float at 3.58%, which implies a short ratio of 6.44 days. The stock has gained 39.51% over the last year.

10. Triangle Capital Corporation (TCAP): Asset Management Industry. Market cap of $205.91M. ADX Line(14) at 20.826. Institutional investors currently own 2,364,475 vs. 2,329,500 shares held three months ago (1.5% change). Short float at 6.05%, which implies a short ratio of 5.97 days. The stock has gained 59.89% over the last year.

Disclosure: No positions

Source: 10 Stocks in a New Uptrend Being Chased by Smart Money