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When stocks are rallying above both their short-term and longer-term moving averages, it usually indicates that momentum is continuing to push the stocks higher. This is especially good news when it’s coupled with net buying from institutional investors such as hedge funds.

We ran a screen on stocks of the S&P 500 for those exhibiting these trends – stocks trading above their 20-day, 50-day, and 200-day moving averages, and seeing significant net institutional buying over the current quarter.

Interactive Chart: Press Play to compare changes in analyst ratings over the last two years for the top six 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 these stocks will continue to move higher? 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. PPL Corporation (NYSE:PPL): Generates and sells electricity; and delivers natural gas to approximately 5.3 million utility customers primarily in the northeastern and northwestern US. Market cap of $16.48B. The stock is currently trading at 0.19% above its 20-Day SMA, 2.79% above its 50-Day SMA, and 8.17% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 94.8M, which is 16.42% of the company's 577.48M share float. The stock has gained 9.15% over the last year.

2. Motorola Solutions, Inc. (NYSE:MSI): Provides business and mission critical communication products and services for enterprise and government customers worldwide. Market cap of $15.45B. The stock is currently trading at 4.37% above its 20-Day SMA, 8.34% above its 50-Day SMA, and 6.17% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 34.1M, which is 12.20% of the company's 279.46M share float. The stock has gained 39.04% over the last year.

3. Iron Mountain Inc. (NYSE:IRM): Provides information management and related services for various media in North America, Europe, Latin America, and the Asia Pacific. Market cap of $6.42B. The stock is currently trading at 1.84% above its 20-Day SMA, 2.20% above its 50-Day SMA, and 5.81% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 18.6M, which is 9.67% of the company's 192.38M share float. The stock has had a couple of great days, gaining 7.94% over the last week.

4. Tesoro Corporation (NYSE:TSO): Engages in refining and marketing petroleum products in the United States. Market cap of $3.84B. The stock is currently trading at 23.57% above its 20-Day SMA, 23.0% above its 50-Day SMA, and 16.61% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 10.4M, which is 7.38% of the company's 140.85M share float. The stock has had a couple of great days, gaining 18.04% over the last week.

5. Oracle Corp. (NYSE:ORCL): Develops, manufactures, markets, distributes, and services database and middleware software, applications software, and hardware systems worldwide. Market cap of $160.67B. The stock is currently trading at 7.89% above its 20-Day SMA, 13.63% above its 50-Day SMA, and 1.31% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 240.4M, which is 6.10% of the company's 3.94B share float. The stock has had a couple of great days, gaining 6.49% over the last week.

6. Jabil Circuit Inc. (NYSE:JBL): Provides electronic manufacturing services and solutions in the Americas, Europe, and Asia. Market cap of $4.39B. The stock is currently trading at 10.73% above its 20-Day SMA, 19.76% above its 50-Day SMA, and 3.89% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 9.4M, which is 4.97% of the company's 189.26M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.03). Might be undervalued at current levels, with a PEG ratio at 0.93, and P/FCF ratio at 14.22. The stock has had a couple of great days, gaining 7.9% over the last week.

7. IntercontinentalExchange, Inc. (NYSE:ICE): Operates regulated futures exchanges, clearing houses, and over-the-counter (OTC) markets for commodities and derivative financial products. Market cap of $9.14B. The stock is currently trading at 1.34% above its 20-Day SMA, 6.22% above its 50-Day SMA, and 3.15% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 3.1M, which is 4.34% of the company's 71.36M share float. The stock has gained 8.22% over the last year.

8. ONEOK Inc. (NYSE:OKE): Operates as a natural gas distributor primarily in the United States. Market cap of $7.32B. The stock is currently trading at 5.04% above its 20-Day SMA, 5.21% above its 50-Day SMA, and 7.0% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 3.9M, which is 4.02% of the company's 97.11M share float. The stock has gained 48.13% over the last year.

9. Biogen Idec Inc. (NASDAQ:BIIB): Develops, manufactures, and markets therapeutics in the areas of neurology, immunology, hemophilia, and oncology in the United States and internationally. Market cap of $25.0B. The stock is currently trading at 6.29% above its 20-Day SMA, 9.86% above its 50-Day SMA, and 19.02% above its 200-Day SMA. Net institutional shares purchased over the current quarter at 8.3M, which is 3.43% of the company's 242.11M share float. The stock has gained 78.77% over the last year.

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

Source: 9 Rallying S&P 500 Stocks Being Bought Up By Hedge Funds