Based on 17 hedge funds · latest filing: 2020 Q3 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
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High ownership — 81% of 3.0Y peak
81% of all-time peak
17 funds currently hold this stock — 81% of the 3.0-year high of 21 funds (reached 2020 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📶
Steady growth — +13% more funds vs a year ago
fund count last 6Q
+2 new funds entered over the past year (+13% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction.
🔴
Heavy selling pressure — only 23% buying
3 buying10 selling
Last quarter: 10 funds sold vs only 3 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 2 → 4 → 5 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Peak discovery — momentum slowing
1 → 2 → 4 → 5 → 0 new funds/Q
New funds entering each quarter: 2 → 4 → 5 → 0. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.