Can Anything Slow Down These Five Stocks?

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Global markets are trading in the negative territory today and the stocks in the US are no exception.

Nevertheless, there are some stocks which have been showing strong momentum this week, including Corning Incorporated (NYSE:GLW), FedEx Corporation (NYSE:FDX), Microsemi Corporation (NASDAQ:MSCC), Visa Inc. (NYSE:V), and Take-Two Interactive Software Inc. (NASDAQ:TTWO). Let’s take a look at the news that have driven these stocks to their 52-weeks highs this week and assess the smart money sentiment towards them.

We determine hedge fund sentiment by analyzing the equity portfolios of some of the best-performing hedge funds and institutional investors. Through extensive research, we have determined that the due diligence that these investors employ, as well as their long-term focus makes them perfect targets to emulate. However, the results of our analysis have also showed that the small-cap picks of these funds can generate much better returns, with the 15 most popular small-cap stocks beating the market by an average of 95 basis points per month (see more details here).

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Corning Incorporated (NYSE:GLW) yesterday reached its 52-week high of $23.23 as it recently announced the release of its new Gorilla Glass. The new product is likely to help the company boost its position in wearable tech market. The latest Gorilla Glass SR+ is based on a type of glass called Project Phire, which has scratch-resistant qualities comparable to that of sapphire crystal. Among the funds we track, 32 funds held $928 million worth of Corning’s stock in aggregate at the end of June, having amassed 4.20% of its outstanding stock, compared to 31 investors that held $1.15 billion worth of stock a quarter earlier.

Follow Corning Inc (NYSE:GLW)

Microsemi Corporation (NASDAQ:MSCC) yesterday saw its stock reaching its 52-week high of $42.17. The company recently has announced its new thermally-improved Chip Scale Atomic Clock (CSAC) components, which come with full operating and storage temperature and provide the lowest power holdover atomic clock technology without making any compromise on size, weight and power. A total of 19 hedge funds from our database have positions in Microsemi worth $134 million as of the end of June, which compares with $112 million worth of shares held by 15 investors a quarter earlier.

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