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Byline: David Saito-Chung
WellPoint Health Networks stopped a four-week slide in August when it bounced off its 200-day moving average, a key long-term trend line. Although volume in the week ended Aug. 9 paled compared with the previous four down weeks, it was still above average. This implied institutional investors came in to soak up sellers' shares.
In fact, the Thousand Oaks, Calif.-based health maintenance organization has seen a rise in mutual fund sponsors over the past four quarters, from 411 funds and 50 million shares in the June 2000 quarter to 616 funds and 49 million in June this year. More than 100 funds took new …