Investors looking for stocks that can produce heaps of passive income want to look at recent activity from some of the world's most successful investors. Billionaire hedge fund manager Ken Griffin more than tripled Citadel Advisors' position in Hercules Capital (NYSE: HTGC) during the last three months of 2023.

Hercules offers a yield that's more than six times the average dividend-paying stock in the benchmark S 500 index. It isn't the only ultra-high-yield stock that billionaires have been buying hand over fist, either. Israel Englander raised Millennium Management's bet on tobacco giant Altria Group (NYSE: MO) by 51% to more than 2.2 million shares in the fourth quarter of 2023.

Hercules Capital is a business development company (BDC) that lets everyday investors get in on the ground floor with innovative tech and life science businesses. Its investments include a mixed bag of successful companies, including Axsome Therapeutics, Palantir Technologies, and Transmedics Group.

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Source Fool.com