The “Stocks That Funds Are Buying” screen searches for stocks that top-performing mutual funds are adding to their portfolios. Canadian Solar (CSIQ) is a top dog in the highly ranked solar industry group, sporting solid fundamentals and impressive institutional sponsorship. CSIQ is Wednesday’s IBD Screen Of The Day stock pick.
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Solar Energy Stock Has Strong Institutional Ownership
Canadian Solar is the leading provider of solar panels in North America, with 2,250 patents worldwide. They have subsidiaries in 23 countries, with 20 manufacturing facilities in Asia and America and active customers in more than 160 countries. Their product line includes solar panels, inverters and energy storage solutions.
Mutual funds control 54% of shares, with 219 funds owning shares in June, up from 216 in March and 213 in December. The A-rated Vanguard Growth and Income Admiral Fund (VGIAX)…