5 Best Defensive Stocks to Buy Now

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1. Intel Corporation (NASDAQ: INTC)

Number of Hedge Fund Holders: 83

The technology giant Intel Corporation (NASDAQ: INTC) is one of the best defensive stocks to buy right now due to its low beta of 0.60 along with a low PE ratio of around 11.0. Moreover, the company offers sustainable dividends and steady share price appreciation. After initiating a position in the December quarter of 2020, Seth Klarman increased his stake by 28% during the first quarter. Currently, INTC is the largest stock holding of Baupost Group, accounting for 11.64% of the 13F portfolio.

Money managers were betting on the stock. The number of bullish hedge fund positions moved up by 11 recently. Intel Corporation was in 83 hedge funds’ portfolios at the end of the first quarter of 2021. The all-time high for this statistic was previously 78. This means the bullish number of hedge fund positions in this stock currently sits at its all-time high.

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