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If you believe that the trend is your friend and you also like to follow the latest moves made by the smart money, this article will provide with 10 stocks you may want to keep on your radar.

To construct this list we looked for stocks with 3 characteristics:

  • Trading above 20,50 and 200 day moving averages
  • Experiencing significant institutional buying
  • And a relevant decrease of shorted shares over the month of May

We also created a price-weighted index of the stocks mentioned below, and monitored the performance of the list relative to the S&P 500 index over the last month. To access a complete analysis of this list's recent performance, click here.

Considering this data, which of stocks do you think will continue to grind higher?

(Click here to access an interactive list snapshot of all stocks mentioned below.)

1. Peet's Coffee & Tea Inc. (NASDAQ:PEET): Processed & Packaged Goods Industry. Market cap of $690.23M. This stock is 6.37% above its 20-day MA, 11.78% above its 50-day MA, and 28.31% above its 200-day MA. On a net basis, institutional investors bought 2.0M shares - this is equivalent to 15.87% of float. Shorted shares dropped from 2.94M to 2.91M, this is equivalent to 0.24% of float. The stock has had a couple of great days, gaining 5.14% over the last week.

2. Uroplasty Inc. (NASDAQ:UPI): Medical Instruments & Supplies Industry. Market cap of $161.15M. This stock is -0.11% above its 20-day MA, 6.79% above its 50-day MA, and 40.71% above its 200-day MA. On a net basis, institutional investors bought 2.1M shares - this is equivalent to 13.34% of float. Shorted shares dropped from 632.57K to 556.05K, this is equivalent to 0.49% of float. The stock has gained 37.81% over the last year.

3. Questcor Pharmaceuticals, Inc. (QCOR): Biotechnology Industry. Market cap of $1.45B. This stock is 2.2% above its 20-day MA, 9.38% above its 50-day MA, and 52.44% above its 200-day MA. On a net basis, institutional investors bought 7.3M shares - this is equivalent to 13.3% of float. Shorted shares dropped from 8.11M to 7.45M, this is equivalent to 1.2% of float. The stock has gained 122.23% over the last year.

4. Vitamin Shoppe, Inc. (NYSE:VSI): Specialty Retail, Other Industry. Market cap of $1.31B. This stock is 10.09% above its 20-day MA, 16.47% above its 50-day MA, and 37.56% above its 200-day MA. On a net basis, institutional investors bought 2.8M shares - this is equivalent to 10.92% of float. Shorted shares dropped from 3.45M to 2.94M, this is equivalent to 1.99% of float. The stock has had a good month, gaining 19.78%.

5. Federal Agricultural Mortgage Corp. (NYSE:AGM): Credit Services Industry. Market cap of $216.31M. This stock is 14.26% above its 20-day MA, 16.32% above its 50-day MA, and 33.62% above its 200-day MA. On a net basis, institutional investors bought 942.1K shares - this is equivalent to 10.31% of float. Shorted shares dropped from 628.84K to 588.53K, this is equivalent to 0.44% of float. The stock has had a couple of great days, gaining 7.01% over the last week.

6. PriceSmart Inc. (NASDAQ:PSMT): Discount, Variety Stores Industry. Market cap of $1.42B. This stock is 7.63% above its 20-day MA, 10.42% above its 50-day MA, and 31.3% above its 200-day MA. On a net basis, institutional investors bought 1.7M shares - this is equivalent to 9.46% of float. Shorted shares dropped from 2.10M to 2.00M, this is equivalent to 0.56% of float. The stock has had a couple of great days, gaining 7.96% over the last week.

7. Select Comfort Corporation (NASDAQ:SCSS): Home Furnishings & Fixtures Industry. Market cap of $950.03M. This stock is 10.13% above its 20-day MA, 10.33% above its 50-day MA, and 56.84% above its 200-day MA. On a net basis, institutional investors bought 3.4M shares - this is equivalent to 7.2% of float. Shorted shares dropped from 3.31M to 3.16M, this is equivalent to 0.32% of float. The stock has had a couple of great days, gaining 10.83% over the last week.

8. Carpenter Technology Corp. (NYSE:CRS): Steel & Iron Industry. Market cap of $2.30B. This stock is 6.91% above its 20-day MA, 10.07% above its 50-day MA, and 30.45% above its 200-day MA. On a net basis, institutional investors bought 2.9M shares - this is equivalent to 6.67% of float. Shorted shares dropped from 2.06M to 1.92M, this is equivalent to 0.32% of float. The stock has had a couple of great days, gaining 6.04% over the last week.

9. Leap Wireless International Inc. (LEAP): Wireless Communications Industry. Market cap of $1.31B. This stock is 4.19% above its 20-day MA, 5.27% above its 50-day MA, and 26.01% above its 200-day MA. On a net basis, institutional investors bought 3.8M shares - this is equivalent to 4.92% of float. Shorted shares dropped from 7.60M to 6.39M, this is equivalent to 1.57% of float. The stock has gained 13.9% over the last year.

10. Immersion Corporation (NASDAQ:IMMR): Computer Peripherals Industry. Market cap of $233.95M. This stock is 4.21% above its 20-day MA, 8.71% above its 50-day MA, and 28.52% above its 200-day MA. On a net basis, institutional investors bought 794.3K shares - this is equivalent to 3.06% of float. Shorted shares dropped from 1.66M to 1.58M, this is equivalent to 0.31% of float. The stock has gained 60.78% over the last year.

Data sourced from Fidelity, Yahoo! Finance and Finviz.

Source: Top 10 Rallying Stocks Being Snapped Up by Smart Money and Short Sellers