Five Stocks Hedge Funds Are Piling Into

As stated earlier, Bank of America Corp (NYSE:BAC) was the third most-popular stock among the funds tracked by us at the end of 2016. The number of investors betting on the stock jumped to 139 from 112, while the value of their holdings surged by 72% to $12.49 billion during the fourth quarter. A significant part of the increase in the aggregate value of holdings was played by the 40% jump registered by the stock. Bank of America’s shares rallied following the elections and received another boost after the Fed hiked the interest rates in December. Financial companies are expected to do well in the next couple of years due to further interest rate hikes promised by the Fed and because of tax rate cuts and cut regulations that are planned by the Trump administration. Among the investors that added Bank of America Corp (NYSE:BAC) to their equity portfolios during the fourth quarter are Clint Carlson‘s Carlson Capital, Charles Davidson‘s Wexford Capital, and Three Bays Capital, led by Matthew Sidman.

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