Here’s Why Traders Are Piling Into These Five Stocks

Like many other crude-related names, California Resources Corp (NYSE:CRC) shares have gained over 9% as the WTI has advanced close to $52 per barrel after the EIA confirmed yesterday’s bullish API report and showed that crude inventories in the U.S. fell 5.2 million barrels last week. Among the funds we track, 35 funds owned $139.48 million worth of California Resources Corp (NYSE:CRC)’s stock, which accounted for 27.90% of the float on June 30, versus 32 funds and $88 million, respectively, on March 31.

Tableau Software Inc (NYSE:DATA) shares are 5% in the green after the Wall Street Journal published an article on salesforce.com, inc. (NYSE:CRM)’s previous potential M&A target considerations. Courtesy of hacked e-mails from Colin Powell, who is a board member of Salesforce, traders found out that Tableau was apparently one of Salesforce’s potential purchase targets. Whether Tableau still remains a potential takeover target today is an open question, but that fact hasn’t stopped some traders from speculating. A total of 34 funds followed by our team had a bullish position in Tableau Software Inc (NYSE:DATA) at the end of June, unchanged over the quarter.

iPass Inc. (NASDAQ:IPAS) has spiked by 8% after the Maxim analyst Brian Kinstlinger initiated coverage on the stock with a ‘Buy’ rating and a $3 price target. The analyst believes iPass’ wide network of Wi-Fi hotspots could increase productivity. Only two funds from our database had a bullish position in iPass Inc. (NASDAQ:IPAS) at the end of the second quarter, up by one from the previous quarter.

Disclosure: none