Incredible period in the history of Wall Street. As coronavirus crisis sees no end, investors, especially institutional ones, are seeking for the remaining safe harbor stocks to spend their money on.
The niche that is on fire for the previous 3 months is semi-conductors niche. One of the company in this niche is Qorvo Inc (NASDAQ:QRVO). According to the latest (Q2) report from Holdings Channel there is a massive jump of total QRVO share count owned by hedge funds.
With 477,058 shares more since the Q1 filing period among institutional investors, when the total share count was 337,610 – this is a 141.30% increase!
According to the same report TOP 3 funds with biggest share count at 06/30/2020 are as follows:
(1) Robecosam AG , investment company with a specific focus on sustainability investments , holding 587,500 shares
(2) State of Alaska Department of Revenue holding 87,409 shares and
(3) Envestnet Asset Management Inc. holding 80,828 shares
Since its March lows ($67) QRVO stock bounced back near its all-time-high of $122.37 and closed at $112 on Friday.