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A Look at Today’s Trending Stocks: Phillips 66 (PSX),, Inc. (AMZN) & More

Wall Street is well in the green today as worries over a potential rate hike on the horizon fade away. Helping the bulls are crude prices, which are up by 1.7% as sentiment around the commodity has bounced back.

Among the stocks trending/on the move are is one energy related company, as well as some other notable stocks. Let’s take a deeper look into Phillips 66 (NYSE:PSX),, Inc. (NASDAQ:AMZN), Whole Foods Market, Inc. (NASDAQ:WFM), Aralez Pharmaceuticals Inc (NASDAQ:ARLZ), and Platform Specialty Products Corp (NYSE:PAH) and use the latest hedge fund data to see what elite funds think of the five stocks.

While there are many metrics that investors can assess in the investment process, the hedge fund sentiment is something that is often overlooked. However, hedge funds and other institutional investors allocate significant resources while making their bets and their long-term focus makes them the perfect investors to emulate. This is supported by our research, which determined that following the small-cap stocks that hedge funds are collectively bullish on can help a smaller investor to beat the S&P 500 by around 95 basis points per month (see the details here)., Inc. (NASDAQ:AMZN), Amazon website, homepage, Online Shopping, laptop, Screen, Pointing finger

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Billionaire Warren Buffett’s Berkshire Hathaway keeps increasing its exposure to Phillips 66 (NYSE:PSX), at least according to the latest SEC filing, which showed that Berkshire added 1.02 million shares in the refiner between September 12 and September 14. In this way, Berkshire currently owns over 80.67 million shares, which represent 15.4% of Phillips 66’s outstanding stock. Although crack spreads weren’t very healthy in the second quarter, many analysts anticipate the spread between crude and distillate products to widen over time as refiners cut back on production/refining. Among the funds we track,  26 owned $7.27 billion worth of Phillips 66 (NYSE:PSX)’s stock, which accounted for 17.40% of the float on June 30.

Follow Phillips 66 (NYSE:PSX)
Trade (NYSE:PSX) Now!, Inc. (NASDAQ:AMZN) is making some headlines after the tech giant announced a new 253 MW wind farm in West Texas, which will generate enough energy to power almost 90,000 American homes. Amazon has contracted Lincoln Clean Energy to do the construction and operation work, while Amazon will in turn purchase 90% of the energy generated from the plant. Given that, Inc. (NASDAQ:AMZN)’s AWS division consumes a substantial amount of energy and is growing rapidly, Amazon’s dive into sustainable energy will help the company in the long run by helping lower renewable energy costs through more investment in the sector. The smart money was pretty bullish on Bezos and Co’s brainchild in the second quarter, as 145 funds from our database owned shares of, Inc. (NASDAQ:AMZN) at the end of June, up by 12 funds from the end of March.

Follow Amazon Com Inc (NASDAQ:AMZN)
Trade (NASDAQ:AMZN) Now!

On the next page, we find out why Whole Foods Market, Aralez Pharmaceuticals, and Platform Specialty Products Corp are trending.

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