Best mutual funds bet over $1 billion on five stocks, including Apple

While investor interest in the latest iPhone announcements may be waning, the best mutual funds haven’t lost their appetite Apple (AAPL). AAPL stock joins Exxon Mobil (XOM), UnitedHealth (UNH), and Eli Lilly (LLY) among five stocks raking in more than $1 billion in IBD’s latest list of new buys by top money managers. In a hint that tech stocks like Apple are returning to favor after a long exile in this year’s bear market, Nasdaq (NDAQ) collected more than $1.9 billion this month.


Medical and energy stocks dominated the big buys by the best mutual funds.

In addition to ExxonMobil, EOG Resources (EOG), ConocoPhillips (COP) and Next Era Energy (NO) each took more than $500 million in the latest report.

In the medical field, Merck (MCK) ($971 million), Vertex Pharmaceuticals (VRTX) ($968 million), Elevation Health (ELV) ($818 million) also showed strong demand alongside UnitedHealth and Eli Lilly.

With inflation straining household budgets, the best mutual funds also raised about $630 million worth of shares in a discount store Dollar General (DG).

Note: Be sure to check these Excel files, which are updated and published every month, to see all the stocks on the latest list of new purchases and a list of new sales by the best mutual funds.

Build custom stock screens to find stocks that match your own criteria

Support vs. Resistance on New Purchases by the Best Mutual Funds

Navigating tumultuous, uncertain markets is no easy task. To keep daily and weekly price swings in perspective, track the action around key moving averages such as the 50-day and 10-week lines.

Also see if these moving averages are higher or lower. Plus, the shorter-term averages – such as the 50-day line – are above or below the longer-term lines such as the 200-day moving average. It’s a sign of recovering technical strength when shorter-term moving averages come back above their longer-term cousins.

Take Apple stock as an example. Since January, the stock has encountered resistance around the 180 range several times. It is now trading below the 200-week line. Apple’s 50-day line is below the 200-day moving averages, but it is trending upwards and is close to regaining the line in the longer term.

As technology stocks took a hit this year, Nasdaq, which serves capital markets financial data, faced volatile selling pressure. The 10-week moving average started to trend downward until it started to reverse in July. The 10-week line is now resuming its 40-week moving average.

With its relative strength line already at a new all-time high, Nasdaq continues to build a 43-week grippy cup. The point of sale is 64.88.

To spot emerging strength and potential breakouts, take a look at how other stocks on the top mutual fund’s new buy list are finding support or resistance.

More Stocks to View Test Buy Zone

View the Excel file on this page to see the full list of stocks on this list of new purchases by the best mutual funds. You will find several stocks such as Dollar General, Eli Lilly, NextEra Energy and Albemarle (ALB), which form chart patterns or test new buying zones.


Leave a Comment