5 Precious Metals Stocks to Buy Amid Market Volatility

4. Steel Dynamics, Inc. (NASDAQ:STLD)

Number of Hedge Fund Holders: 23   

Steel Dynamics, Inc. (NASDAQ:STLD) operates as a steel producer. The stock has returned more than 56% to investors in the past year as the firm shatters earnings records and steel prices hit new prices. One of the other major advantages of owning the stock is that the firm also operates as a metal recycler, making it a rare sustainability play in an industry that is renowned for carbon emissions. 

This is why elite hedge funds are bullish on Steel Dynamics, Inc. (NASDAQ:STLD) as a new fiscal year begins. Among the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Steel Dynamics, Inc. (NASDAQ:STLD) with 1.6 million shares worth more than $96 million.