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with Merc (MRK) and Eli Lilly ( LLY ) leading the way, stocks from the medical sector led the latest list of new buys among the best mutual funds.
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Oil and gas reserves such as EOG resources (EOG), Valero Energy (VLO) and Hess (HES) continues to fuel demand.
After big oil profits and stock gains in 2021 and so far this year, analyst estimates now point to a general slowdown in 2023.
Wall Street expects EOG Resources, for example, to deliver 68% revenue growth this year, but forecasts 6% EPS growth in 2023. Valero is even more surprising. Estimates show an 892% increase in revenue this year and a 37% drop next year.
Checking the latest buys and sells in the best mutual funds every month can help investors watch for signs of a move into or out of certain sectors.
Big Pharma holds 4 of the 5 top buys in mutual funds
Including Merck and Eli Lilly, drug and biotech stocks account for four of the top five investments in leading mutual funds. I believe (AMGN) and ABV (ABBV) Also find that difference.
Such institutional interest has pushed LLY and MRK above recent buy zones. AMGN is also extended. The biotech has had several weeks of tight trading, which could look like a rollover as it looks to record a new move.
With the relative strength line already at a new high, AbbVie continues to work on a chart pattern showing a buy point of 176.01.
Special Chemicals Company Linde (Lynn) Make the biggest new investments in the best mutual funds. The U.K.-based industrial gases producer is trading two-down from its recently acquired territory.
Big funds develop many sectors.
The best performing fund managers also placed bets Charles Schwab (SCHW), as well as regional banks, savings and loans and other financial stocks.
Rural lifestyle retailer Tractor delivery ( TSCO ) earned an estimated $280 million from these top money managers, earning a spot on the top 10 buyouts. Tractor supply has joined the farm machinery giant. Deer (DE), which took in more than $215 million to enter the list.
Big funds have planted the seeds for potential growth in agricultural power generation Archer Daniels Midland ( ADM ) In total, these fund managers have about $147 million invested in ADM stock, which is trying to regain a buy point that was first cleared in late October.
The smart money is adding retail stocks to holiday shopping lists
With the holidays here, the best mutual funds picked up stocks in various retailers.
Auto accessories retailer Self-zone (AZO) joined the pioneer of yoga clothing Lululemon Athletics (Lulu) Wingstop (WING), Casey’s General Stores (CASY), Sprout Farmers Market (SMS) and Academy sports and outdoors (ASO) got a seat at the table.
ASO stock, which featured last month, rose on earnings Tuesday as it set a new buy point. Sporting goods retail now extended.
Reflecting volatility in market indices, Wingstop continues to test the top of its buy zone. In the year The stock opened higher on October 26 and has been in a buy zone ever since. Amidst the volatility, the Wingstop holds support at the 50-day moving average, which continues higher.
See the full list of recent acquisitions by the best mutual funds in all sectors.
Follow Matthew Galgani on Twitter @IBD_MGalgani.
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