Based on 2 hedge funds · latest filing: 2025 Q3 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed their FGB positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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Below peak — only 5% of 3.0Y high
5% of all-time peak
Only 2 funds hold FGB today versus a peak of 40 funds at 2024 Q4 — just 5% 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.
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Outflows — 94% fewer funds vs a year ago
fund count last 6Q
33 fewer hedge funds hold FGB compared to a year ago (-94% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More sellers than buyers — 40% buying
2 buying3 selling
Last quarter: 3 funds reduced or exited vs 2 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 12 → 7 → 1 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Buying through price weakness — shares +35%, value +20%
Last quarter: funds added +35% more shares while total portfolio value only changed +20%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Saturation — most institutions already know this story
8 → 12 → 7 → 1 → 2 new funds/Q
New funds entering each quarter: 12 → 7 → 1 → 2. 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.
Exit risk score 1.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.