Based on 20 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their ECDAW positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 77% of 3.0Y peak
77% of all-time peak
20 funds currently hold this stock — 77% of the 3.0-year high of 26 funds (reached 2024 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 9% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold ECDAW compared to a year ago (-9% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 12% buying
1 buying7 selling
Last quarter: 7 funds sold vs only 1 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: 3 → 2 → 1 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
75% of holders stayed for 2+ years
■ 75% conviction (2yr+)
■ 10% medium
■ 15% new
15 out of 20 hedge funds have held ECDAW 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 -15%, value -100%
Last quarter: funds added -15% more shares while total portfolio value only changed -100%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
⚠️
Saturation — most institutions already know this story
0 → 3 → 2 → 1 → 0 new funds/Q
New funds entering each quarter: 3 → 2 → 1 → 0. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
📊
Mixed cohorts — 5% veterans, 20% new entrants
■ 5% veterans
■ 75% 1-2yr
■ 20% new
Of 20 current holders: 1 (5%) held 2+ years, 15 held 1–2 years, 4 (20%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 0% AUM from top-100
0% from top-100 AUM funds
2 of 20 holders rank in the top 100 by AUM, but together hold only 0% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.1
out of 10
Moderate Exit Risk
Exit risk score 4.1/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.