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Do you follow the buying and selling trends of smart money investors? For a closer look at stocks currently in favor with smart money institutional investors, we ran a screen.

We screened the wireless communications industry for stocks with bullish sentiment from institutional investors, with significant net institutional purchases over the last quarter representing at least 5% of share float. This indicates that institutional investors such as hedge fund managers and mutual fund managers expect these names to outperform into the future.

For an interactive version of this chart, click on the image below. Analyst ratings sourced from Zacks Investment Research.

Tool provided by Kapitall.

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 over the last quarter as a percent of share float.

1. Clearwire Corporation (CLWR): Provides wireless broadband services. Market cap at $1.13B, most recent closing price at $1.15. Net institutional purchases in the current quarter at 68.0M shares, which represents about 33.22% of the company's float of 204.67M shares.

2. NII Holdings Inc. (NASDAQ:NIHD): Provides wireless communication services to businesses and individuals primarily in Mexico, Brazil, Argentina, Peru, and Chile. Market cap at $1.92B, most recent closing price at $11.15. Net institutional purchases in the current quarter at 10.1M shares, which represents about 6.38% of the company's float of 158.28M shares.

3. TELUS Corporation (NYSE:TU): Provides telecommunications products and services primarily in Canada. Market cap at $18.39B, most recent closing price at $56.48. Net institutional purchases in the current quarter at 16.5M shares, which represents about 5.86% of the company's float of 281.68M shares.

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

Source: 3 Wireless Communication Stocks Being Bought Up By Hedge Funds