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Cloud Peak Energy, Bank of America, and More: Here’s Why These Stocks Are On the Move Today

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After falling sharply overnight and opening relatively flat this morning, Wall Street is now in bull mode as all three major indexes and crude oil are now higher. As of around noon, the Dow Jones index is up 169 points, while the S&P 500 and NASDAQ indices are 0.7% in the green. WTI crude futures have rallied up 1.5% to trade above $45 per barrel.

In this article, let’s analyze how the prospect of a Trump Presidency has caused traders to buy and sell Cloud Peak Energy Inc. (NYSE:CLD), Bank of America Corp (NYSE:BAC), Community Health Systems (NYSE:CYH), Tenet Healthcare Corp (NYSE:THC), and LifePoint Health Inc (NASDAQ:LPNT). Let’s also examine how the investors from our database were positioned towards the stocks at the end of the second quarter.

We believe that imitating hedge funds and other large institutional investors can be helpful in identifying stocks capable of outperforming the broader market. Through extensive research that covered portfolios of several hundred large investors between 1999 and 2012, we determined that following the small-cap stocks that large money managers are collectively bullish on, can generate monthly returns nearly 1.0 percentage points above the market (see the details here).

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Cloud Peak Energy Inc. (NYSE:CLD) shares have spiked 17% as sentiment towards the stock has sharply improved. Seeing as Donald Trump is a big proponent of coal, traders hope that he can roll back regulations on electric utilities and send demand for coal higher. Also likely helping boost the stock today is potential short covering. As much as 11.7% of Cloud Peak’s float was short just a few weeks ago. The number of funds from our database with holdings in Cloud Peak Energy Inc. (NYSE:CLD) fell by 2 quarter-over-quarter to 8 at the end of June.

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Investors have piled into Bank of America Corp (NYSE:BAC) to the tune of 4.8% today as traders anticipate a roll-back in financial regulations that have hampered the bank’s return on capital and profitability. If Bank of America can charge more on its fees to various clients, the bank can deliver more dividends and buy back more stock for its shareholders. In addition, with the election now over, the prospect of an eventual interest rate hike looks more likely. 102 elite funds were long Bank of America Corp (NYSE:BAC) at the end of June, down 8 funds from the previous quarter.

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On the next page, we find out why traders are selling Community Health Systems, Tenet Healthcare Corp, and LifePoint Health.

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