Based on 9 hedge funds · latest filing: 2026 Q2 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added INDE 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.
🏔️
At the ownership peak (100% of max)
100% of all-time peak
9 hedge funds hold INDE right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
〰️
Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding INDE is almost the same as a year ago (+0 funds, +0% change). No significant rush to buy or sell — institutional backing is holding steady.
🟡
Slight buying edge — 56% buying
5 buying4 selling
Last quarter: 5 funds bought or added vs 4 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 1 → 3 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 44% entered in last year
■ 22% conviction (2yr+)
■ 33% medium
■ 44% new
Only 2 funds (22%) have held >2 years. The majority of current holders are relatively new to the position. New holders tend to sell faster when prices drop — a shallow conviction base that could amplify any sell-off.
💰
Value +67% but shares only +46% — price-driven
Last quarter: the total dollar value of institutional holdings rose +67%, but actual share count only changed +46%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
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Steady discovery — ~3 new funds/quarter
2 → 1 → 1 → 3 → 3 new funds/Q
New funds entering each quarter: 1 → 1 → 3 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
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Mixed cohorts — 22% veterans, 44% new entrants
■ 22% veterans
■ 33% 1-2yr
■ 44% new
Of 9 current holders: 2 (22%) held 2+ years, 3 held 1–2 years, 4 (44%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
✅
Strong quality — 30% AUM from major funds
30% from top-100 AUM funds
2 of 9 holders rank in the top 100 by AUM, accounting for 30% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
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.