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Although many analysts focus on fundamental stock analysis, technical analysis also offers an interesting angle by which to compare stocks.

One popular technical indicator is the "golden cross," in which a stock's 50-day moving average crosses above its 200-day moving average. This indicates recent momentum to the upside that may persist as more investors see the positive price action.

We ran a screen on stocks that recently exhibited the golden cross for those with the most significant net institutional purchases over the current quarter, indicating that institutional investors such as hedge fund managers and mutual fund mangers expect these names to outperform.

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 outperform like hedge funds expect? Use this list as a starting point for your own analysis.

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

1. First Republic Bank (FRC): Provides private banking, private business banking, investment management, brokerage, trust services, and real estate lending services in California, Nevada, and New York. Market cap of $4.10B. SMA50 at $29.28 vs. SMA200 at $28.84 (price at $31.14). Net institutional shares purchased over the current quarter at 20.3M, which is 37.75% of the company's 53.77M share float. The stock has gained 3.6% over the last year.

2. Universal Forest Products Inc. (UFPI): Distributes and installs lumber, composite wood, plastic, and other building products for the DIY/retail, site-built construction, manufactured housing, and industrial markets. Market cap of $649.78M. SMA50 at $28.32 vs. SMA200 at $28.21 (price at $33.20). Net institutional shares purchased over the current quarter at 2.0M, which is 11.43% of the company's 17.50M share float. The stock is a short squeeze candidate, with a short float at 7.79% (equivalent to 11.15 days of average volume). Exhibiting strong upside momentum--currently trading 9.25% above its SMA20, 17.22% above its SMA50, and 17.67% above its SMA200. The stock has had a couple of great days, gaining 5.9% over the last week.

3. Calpine Corp. (CPN): Owns and operates natural gas-fired and geothermal power plants in North America. Market cap of $6.85B. SMA50 at $15.33 vs. SMA200 at $15.31 (price at $15.49). Net institutional shares purchased over the current quarter at 26.6M, which is 11.01% of the company's 241.50M share float. The stock has gained 7.16% over the last year.

4. Presidential Life Corp. (PLFE): Engages in the marketing and sale of various fixed annuity, life insurance, and accident and health insurance products in the United States. Market cap of $314.92M. SMA50 at $9.95 vs. SMA200 at $9.85 (price at $10.75). Net institutional shares purchased over the current quarter at 2.1M, which is 8.43% of the company's 24.91M share float. The stock has gained 9.34% over the last year.

5. Glimcher Realty Trust (GRT): Operates as a real estate investment trust in the United States. Market cap of $999.66M. SMA50 at $8.76 vs. SMA200 at $8.71 (price at $9.01). Net institutional shares purchased over the current quarter at 8.1M, which is 7.69% of the company's 105.32M share float. This is a risky stock that is significantly more volatile than the overall market (beta = 2.43). The stock is a short squeeze candidate, with a short float at 5.09% (equivalent to 6.44 days of average volume). The stock has gained 16.83% over the last year.

6. Platinum Underwriters Holdings Ltd. (PTP): Provides property and marine, casualty, and finite risk reinsurance products worldwide. Market cap of $1.28B. SMA50 at $33.40 vs. SMA200 at $33.22 (price at $34.09). Net institutional shares purchased over the current quarter at 2.2M, which is 6.07% of the company's 36.22M share float. The stock has lost 22.69% over the last year.

7. Dril-Quip, Inc. (DRQ): Designs, manufactures, fabricates, inspects, assembles, tests, and markets engineered offshore drilling and production equipment for use in deepwater, harsh environment, and severe service applications worldwide. Market cap of $2.67B. SMA50 at $66.56 vs. SMA200 at $66.33 (price at $65.65). Net institutional shares purchased over the current quarter at 1.9M, which is 5.51% of the company's 34.49M share float. The stock is a short squeeze candidate, with a short float at 7.95% (equivalent to 6.51 days of average volume). The stock has lost 11.54% over the last year.

8. Tetra Tech Inc. (TTEK): Provides consulting, engineering, program management, construction, and technical services for resource management, infrastructure, and environment in the United States and internationally. Market cap of $1.38B. SMA50 at $21.78 vs. SMA200 at $21.69 (price at $22.17). Net institutional shares purchased over the current quarter at 3.4M, which is 5.49% of the company's 61.95M share float. Might be undervalued at current levels, with a PEG ratio at 0.94, and P/FCF ratio at 12.21. The stock is a short squeeze candidate, with a short float at 5.61% (equivalent to 10.61 days of average volume). The stock has lost 11.29% over the last year.

9. Pebblebrook Hotel Trust (PEB): Operates as a real estate investment trust. Market cap of $993.57M. SMA50 at $18.61 vs. SMA200 at $18.37 (price at $19.59). Net institutional shares purchased over the current quarter at 2.3M, which is 4.55% of the company's 50.57M share float. The stock is a short squeeze candidate, with a short float at 5.6% (equivalent to 7.79 days of average volume). The stock has lost 2.06% over the last year.

10. iGATE Corporation (IGTE): Provides outsourced information technology and IT-enabled operations, solutions, and services. Market cap of $927.27M. SMA50 at $15.45 vs. SMA200 at $15.05 (price at $16.03). Net institutional shares purchased over the current quarter at 1.2M, which is 4.42% of the company's 27.17M share float. The stock is a short squeeze candidate, with a short float at 6.57% (equivalent to 9.18 days of average volume). The stock has gained 6.09% over the last year.

11. Ryland Group Inc. (RYL): Operates as a home building and mortgage-finance company in the United States. Market cap of $822.03M. SMA50 at $14.82 vs. SMA200 at $14.41 (price at $18.06). Net institutional shares purchased over the current quarter at 1.8M, which is 4.35% of the company's 41.36M share float. Exhibiting strong upside momentum--currently trading 14.35% above its SMA20, 21.88% above its SMA50, and 25.31% above its SMA200. The stock has had a couple of great days, gaining 14.12% over the last week.

12. Susquehanna Bancshares, Inc. (SUSQ): Provides retail and commercial banking, and financial services in the mid-Atlantic region. Market cap of $1.44B. SMA50 at $7.86 vs. SMA200 at $7.59 (price at $9.17). Net institutional shares purchased over the current quarter at 6.5M, which is 4.21% of the company's 154.53M share float. The stock is a short squeeze candidate, with a short float at 9.15% (equivalent to 8.06 days of average volume). Exhibiting strong upside momentum--currently trading 9.53% above its SMA20, 16.68% above its SMA50, and 20.79% above its SMA200. The stock has had a couple of great days, gaining 6.74% over the last week.

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

Source: 12 'Golden Cross' Stocks Hedge Funds Love