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Shopify, Coupa Boost Tech-focused Funds Rated Tops in Morningstar Survey

Growth in e-commerce boosted leading mutual funds' SHOP stock holdings

  • Two Morgan Stanley mutual funds, Morgan Stanley Insight Fund (MUTF:CPOAX) mutual fund and its Morgan Stanley Institutional Growth Fund (MUTF:MSEQX), both focused on tech stocks, topped a Morningstar performance survey which compared 1,500 US-based actively managed mutual funds and ETFs that had at least $1 billion in mid-February, the Financial Times reported.
shopify logo sign on building facade
Source: Beyond The Scene / Shutterstock.com
  • As of Wednesday, the two funds were up 59% and 55%, respectively, far outpacing the S&P 500 index.
  • Both are run by the same team of portfolio managers led by Dennis Lynch,
  • Top holdings include Shopify (NYSE:SHOP), Coupa Software (NASDAQ:COUP) , which provides accounting tools to businesses, Square (NYSE:SQ) and Amazon (NASDAQ:AMZN).
  • In June, InvestorPlace contributor Louis Navellier gave COUP stock an A rating in his Portfolio Grader, and wrote “that makes it well worth considering as part of your portfolio.”
  • Meanwhile, InvestorPlace contributor Luke Lango last month told readers to “stick with a long-term strategy on SHOP stock. Trim some on rallies. Buy back on dips. And ultimately stay the course for the long haul.”

Article printed from InvestorPlace Media, https://investorplace.com/2020/08/shop-stock-coupa-boost-tech-focused-funds-rated-tops-in-morningstar-survey/.

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