Based on 8 hedge funds · latest filing: 2024 Q2 · updated quarterly
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Selling streak — 5 quarters in a row
For 5 consecutive quarters, more hedge funds reduced or closed their HLTHQ 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 9% of 3.0Y high
9% of all-time peak
Only 8 funds hold HLTHQ today versus a peak of 89 funds at 2022 Q2 — just 9% 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 — 89% fewer funds vs a year ago
fund count last 6Q
62 fewer hedge funds hold HLTHQ compared to a year ago (-89% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 8% buying
4 buying45 selling
Last quarter: 45 funds sold vs only 4 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Fewer new buyers each quarter (-6 vs last Q)
new funds entering per quarter
Funds opening this position for the first time: 7 → 5 → 9 → 3. Each quarter fewer new institutions are entering. This usually means most funds that wanted in are already in — the stock is well-known but the pool of potential new buyers is shrinking.
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Buying through price weakness — shares -64%, value -100%
Last quarter: funds added -64% 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.
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Steady discovery — ~3 new funds/quarter
19 → 7 → 5 → 9 → 3 new funds/Q
New funds entering each quarter: 7 → 5 → 9 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
Exit risk score 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.