When many mutual fund schemes hold a particular stock, investors feel more assured purchasing it. In May 2023, a total of 118 stocks were found to be owned by over 100 mutual fund schemes. The latest mutual fund analysis by ETMarkets has identified nine stocks that have experienced a surge of over 30% in the current fiscal year (FY24), i.e. in less than 3 months, and are held by more than 100 mutual fund schemes as of May 2023. (Data source: ACE MF)