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Do you like to follow the buying trends of smart money investors? We ran a screen with that idea in mind.

We began by screening 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.

We then screened for stocks that also have the confidence of their company insiders, such as members of the board and upper management, with significant net insider purchases over the last six months representing at least 2% of share float. Since most companies only have a handful of company insiders, net insider purchases representing 2% of share float is a big show of confidence in their employer's prospects.

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

Tool provided by Kapitall (kapitall.com).

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

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

1. FuelCell Energy Inc. (FCEL): Engages in the development, manufacturing, and sale of high temperature fuel cells for clean electric power generation primarily in South Korea, the United States, Germany, Canada, and Japan. Market cap at $197.08M, most recent closing price at $1.06. Net institutional purchases in the current quarter at 25.1M shares, which represents about 16.6% of the company's float of 151.25M shares. Over the last six months, insiders were net buyers of 20,000,000 shares, which represents about 13.22% of the company's 151.25M share float.

2. RAIT Financial Trust (RAS): Operates as a self-managed and self-advised real estate investment trust (REIT). Market cap at $233.53M, most recent closing price at $4.68. Net institutional purchases in the current quarter at 6.4M shares, which represents about 15.56% of the company's float of 41.12M shares. Over the last six months, insiders were net buyers of 1,962,330 shares, which represents about 4.77% of the company's 41.12M share float.

3. Halozyme Therapeutics, Inc. (HALO): Engages in the development and commercialization of recombinant human enzymes that transiently modify tissue under the skin to facilitate injection of other therapies or correct diseased tissue structures for clinical benefits. Market cap at $949.16M, most recent closing price at $9.16. Net institutional purchases in the current quarter at 8.7M shares, which represents about 12.12% of the company's float of 71.81M shares. Over the last six months, insiders were net buyers of 3,372,440 shares, which represents about 4.7% of the company's 71.81M share float.

*Insider data sourced from Yahoo! Finance, institutional data sourced from Fidelity, all other data sourced from Finviz.

Source: 3 Hedge Fund Stock Picks Also Bought By Insiders