Published on 12 Jan 2022 on Insider Monkey via Yahoo Finance

Hedge Funds Are Crazy About Axcelis Technologies Inc (ACLS)

Although the masses and most of the financial media blame hedge funds for their exorbitant fee structure and disappointing performance, these investors have proved to have great stock picking abilities over the years (that's why their assets under management continue to swell). We believe hedge fund sentiment should serve as a crucial tool of an individual investor’s stock selection process, as it may offer great insights of how the brightest minds of the finance industry feel about specific stocks. After all, these people have access to the smartest analysts and expensive data/information sources that individual investors can't match. So should one consider investing in Axcelis Technologies Inc (NASDAQ:ACLS)? The smart money sentiment can provide an answer to this question.

Axcelis Technologies Inc (NASDAQ:ACLS) investors should pay attention to an increase in hedge fund interest of late. Axcelis Technologies Inc (NASDAQ:ACLS) was in 22 hedge funds' portfolios at the end of September. The all time high for this statistic is 22. This means the bullish number of hedge fund positions in this stock currently sits at its all time high. Our calculations also showed that ACLS isn't among the 30 most popular stocks among hedge funds (click for Q2 rankings).

At Insider Monkey, we scour multiple sources to uncover the next great investment idea. For example, lithium prices have more than doubled over the past year, so we go through lists like the 10 best EV stocks to pick the next Tesla that will deliver a 10x return. Even though we recommend positions in only a tiny fraction of the companies we analyze, we check out as many stocks as we can. With all of this in mind let's review the recent hedge fund action encompassing Axcelis Technologies Inc (NASDAQ:ACLS).