Five Stocks Hedge Funds Are Piling Into

After having been the most popular stock among hedge funds at the end of September, Amazon.com, Inc. (NASDAQ:AMZN) saw a significant drop in the number of bullish investors. More specifically, during the third quarter, the number of funds long the stock slid by 27 to 123, while the aggregate value of their holdings fell by 31% to $14.44 billion. The outflow of smart money came amid a 10% drop registered by Amazon’s stock during the fourth quarter, although it has recovered and is 14% in the green year-to-date. The decline can be attributed to the company missing the bottom line estimates in its third-quarter results posted at the end of October and the outcome of the election, which probably led to investors jumping into stocks that had been forecasted to do well under Trump presidency. Nevertheless, Amazon.com, Inc. (NASDAQ:AMZN) remains to be a good long-term investment as it continues to challenge brick-and-mortar retailers, has a solid cloud business and is making forays in the Internet of Things and delivery industries. Among the top shareholders of Amazon are billionaire Ken Fisher’s Fisher Asset Management, Andreas Halvorsen’s Viking Global, and Alex Snow’s Lansdowne Partners.

Amazon.com, Inc. (NASDAQ:AMZN), Homepage, Online, Tablet, iPad, Shopping, Home, Screen

Twin Design / Shutterstock.com

Follow Amazon Com Inc (NASDAQ:AMZN)