Based on 37 hedge funds · latest filing: 2025 Q4 · updated quarterly
📈
Buying streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds added BOIL than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🔻
Below peak — only 60% of 3.0Y high
60% of all-time peak
Only 37 funds hold BOIL today versus a peak of 62 funds at 2023 Q1 — just 60% of the maximum. Low institutional ownership can mean the stock is out of favor, but it also means there's a large pool of potential buyers if sentiment turns.
🚀
Fast accumulation — +61% more funds vs a year ago
fund count last 6Q
+14 new funds entered over the past year (+61% YoY). That's a rapid rush of institutional money. Fast accumulation often signals a major thesis — but it also means the stock could fall quickly if that thesis breaks.
🟢
More buyers than sellers — 63% buying
27 buying16 selling
Last quarter: 27 funds were net buyers (14 opened a brand new position + 13 added to an existing one). Only 16 were sellers (9 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~14 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 16 → 10 → 12 → 14. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
46% of holders stayed for 2+ years
■ 46% conviction (2yr+)
■ 11% medium
■ 43% new
17 out of 37 hedge funds have held BOIL for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💎
Buying through price weakness — shares -7%, value -29%
Last quarter: funds added -7% more shares while total portfolio value only changed -29%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~14 new funds/quarter
4 → 16 → 10 → 12 → 14 new funds/Q
New funds entering each quarter: 16 → 10 → 12 → 14. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 63% of holders stayed 2+ years
■ 63% veterans
■ 0% 1-2yr
■ 37% new
Of 43 current holders: 27 (63%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
📋
Smaller funds dominant — 1% AUM from top-100
1% from top-100 AUM funds
4 of 37 holders rank in the top 100 by AUM, but together hold only 1% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.