Why Are These Five Stocks on the Move Today?

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).

Wall Street Bull

EXACT Rally Continues

EXACT Sciences Corporation (NASDAQ:EXAS)’s shares are up by another 16.4% a day after the U.S. Preventative Services Task Force updated its colorectal cancer screening recommendations. The new recommendations put EXACT Science’s Cologuard as first-line position along with other tests rather than as an alternative. CEO Kevin Conroy said, “We’re pleased with the clarity of these recommendations and expect they will expand and promote utilization of Cologuard as an innovative colon cancer screening option”. Seeing as 21% of the float is short, the rally today could also be due to a short-squeeze. Among the funds we track, 16 funds owned $73.87 million worth of EXACT Sciences Corporation (NASDAQ:EXAS)’s stock, which accounted for 11.20% of the float on March 31, versus 20 funds and $140.38 million, respectively, on December 31.

MGT Appoints Bitcoin Expert to Advisory Board

MGT Capital Investments Inc. (NYSEMKT:MGT) is almost 5% in the green today due to a mixture of technical buying and the news that the company has appointed Bruce Fenton to its Cryptocurrency Advisory Board, effective immediately. Fenton is the executive director of the bitcoin foundation and an active member of the cybercurrency industry.  His advice will help MGT stay current in the rapidly changing world of bitcoin. Ken Griffin’s Citadel Advisors owns 90,789 shares of MGT Capital Investments as of the end of March. As with all nano-caps, investors should do due diligence before making a buying or selling decision.

On the next page, we examine Kinross Gold Corporation, UQM Technologies, and Eaton Corporation.
Kinross Gold Rallies on Gold Prices

Kinross Gold Corporation (USA) (NYSE:KGC)’s stock has rallied on the back of rising gold spot prices today. Gold futures are up more than 2% and above the key $1,300 level due to fears that a Brexit could cause an unexpected black swan event that lowers economic activity around the world. Gold prices also received support yesterday after the U.S. Federal Reserve decided to keep interest rates unchanged. Kinross Gold’s future prospects are better if gold prices are higher. A total of 28 funds from our database owned shares of Kinross Gold Corporation (USA) (NYSE:KGC) at the end of March, up by six funds from the previous quarter.

UQM Forms an Alliance 

Nano-cap UQM Technologies Inc (NYSEMKT:UQM) is trading higher after the company announced an alliance/supply deal with Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). According to a press release, the company has officially begun a development and production program with Eaton’s vehicle Group and Pi Innovo. The partnership calls for Eaton to develop and supply to UQM a 2-speed transmission for an EV application. CEO Joe Mitchell said, ‘We are excited to have chosen Eaton and Pi Innovo as suppliers for our system. Based on proven performance and expertise of the two suppliers, we believe that our “UQM PowerPhaseDT” system will surpass the requirements and expectations of our customers’. Three funds tracked by us were long UQM Technologies Inc (NYSEMKT:UQM) at the end of March, up by two funds from the previous quarter, while 36 investors owned shares of Eaton Corporation, PLC Ordinary Shares (NYSE:ETN). 

Disclosure: none