10 Most Popular Stocks Among Hedge Funds

As stated earlier, financial stocks saw funds piling into them between October and December. JPMorgan Chase & Co. (NYSE:JPM) saw 110 funds long its stock at the end of December, versus 98 funds a quarter earlier. Consequently, the aggregate value of these funds’ positions jumped to $10.69 billion from $7.61 billion. Among the investors that added the stock to their equity portfolio is Dan Loeb‘s Third Point, which reported a new stake containing 5.25 million shares in its latest 13F filing. JPMorgan Chase & Co. (NYSE:JPM)’s shares surged by nearly 37% since the end of the third quarter of 2016, with the majority of the gains coming following the November election. With the Fed expressing confidence in the U.S. economy and planning to further increase interest rates this year and Trump promising to cut corporate tax rate, JPMorgan and other banks are expected to provide higher profits. According to Bloomberg, JPMorgan Chase & Co. (NYSE:JPM) could save around $3.0 billion and boost its net income by 14% per year if the tax rate is cut to 15% from 35% and deductions are disallowed.

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