Based on 9 hedge funds · latest filing: 2026 Q1 · updated quarterly
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Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added MIGI 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.
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Below peak — only 47% of 3.0Y high
47% of all-time peak
Only 9 funds hold MIGI today versus a peak of 19 funds at 2024 Q3 — just 47% 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 — 31% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold MIGI compared to a year ago (-31% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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More buyers than sellers — 67% buying
6 buying3 selling
Last quarter: 6 funds were net buyers (4 opened a brand new position + 2 added to an existing one). Only 3 were sellers (2 trimmed + 1 sold completely). A clear majority buying is a strong confirmation signal.
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Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 2 → 0 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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44% of holders stayed for 2+ years
■ 44% conviction (2yr+)
■ 22% medium
■ 33% new
4 out of 9 hedge funds have held MIGI 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.
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Buying through price weakness — shares +293%, value +82%
Last quarter: funds added +293% more shares while total portfolio value only changed +82%. 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
3 → 5 → 2 → 0 → 4 new funds/Q
New funds entering each quarter: 5 → 2 → 0 → 4. 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.
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Veteran-anchored — 44% veterans vs 44% newcomers
■ 44% veterans
■ 11% 1-2yr
■ 44% new
Entry-cohort mix of 9 holders: 4 (44%) are 2+ year veterans, 1 entered 1–2 years ago, and 4 (44%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
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Elite ownership — 70% AUM from top-100 funds
70% from top-100 AUM funds
4 of 9 holders are among the 100 largest funds by AUM, controlling 70% of total institutional value in MIGI. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
Exit risk score 1.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.