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If you’re interested in stocks that pay high dividend yields, you may find this list very interesting.

We ran a screen on technically oversold stocks that pay dividend yields above 4%. We screened these companies for those that have seen significant net buying from institutional investors (hedge fund and mutual fund managers, a.k.a. the “smart money”) over the current quarter.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the stocks mentioned below. Analyst ratings sourced from Zacks Investment Research.

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.)

Do you think the smart money is calling it right on these names? Use this list as a starting-off point for your own analysis.

List sorted by net institutional purchases as a percent of share float.

1. Meredith Corp. (NYSE:MDP): Publishing Industry. Market cap of $1.08B. Dividend yield at 4.32%, payout ratio at 27.05%. RSI(14) at 31.57. Net institutional shares purchased over the current quarter at 3.9M, which is 10.05% of the company's 38.82M share float. The stock is a short squeeze candidate, with a short float at 32.06% (equivalent to 13.09 days of average volume). It's been a rough couple of days for the stock, losing 7.88% over the last week.

2. TIM Participacoes S.A. (NYSE:TSU): Wireless Communications Industry. Market cap of $6.83B. Dividend yield at 4.55%, payout ratio at 19.30%. RSI(14) at 25.46. Net institutional shares purchased over the current quarter at 11.1M, which is 5.84% of the company's 190.01M share float. The stock has performed poorly over the last month, losing 44.5%.

3. IDT Corporation (NYSE:IDT): Diversified Communication Services Industry. Market cap of $432.21M. Dividend yield at 4.89%, payout ratio at 29.37%. RSI(14) at 32.37. Net institutional shares purchased over the current quarter at 676.3K, which is 4.33% of the company's 15.62M share float. It's been a rough couple of days for the stock, losing 10.18% over the last week.

4. Northrop Grumman Corporation (NYSE:NOC): Aerospace/Defense Diversified Industry. Market cap of $13.70B. Dividend yield at 4.06%, payout ratio at 29.29%. RSI(14) at 29.40. Net institutional shares purchased over the current quarter at 8.4M, which is 3.03% of the company's 277.19M share float. The stock is a short squeeze candidate, with a short float at 6.34% (equivalent to 5.41 days of average volume). It's been a rough couple of days for the stock, losing 5.07% over the last week.

Institutional data sourced from Fidelity; all other data sourced from Finviz.

Source: 4 High-Yielding Stocks The Smart Money Is Sweet On