Based on 10 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 MOVE positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 62% of 3.0Y high
62% of all-time peak
Only 10 funds hold MOVE today versus a peak of 16 funds at 2025 Q1 — just 62% 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 — 17% fewer funds vs a year ago
fund count last 6Q
2 fewer hedge funds hold MOVE compared to a year ago (-17% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 12% buying
2 buying14 selling
Last quarter: 14 funds sold vs only 2 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~2 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 4 → 4 → 4 → 2. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 20% entered in last year
■ 20% conviction (2yr+)
■ 60% medium
■ 20% new
Only 2 funds (20%) 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.
💰
Price up while funds trimmed (+5% value, -93% shares)
Last quarter: total value of institutional MOVE holdings rose +5% even though funds reduced share count by 93%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
📊
Peak discovery — momentum slowing
11 → 4 → 4 → 4 → 2 new funds/Q
New funds entering each quarter: 4 → 4 → 4 → 2. MOVE is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🌱
Early stage — 80% of holders entered in last year
■ 20% veterans
■ 0% 1-2yr
■ 80% new
Of 10 current holders: 8 (80%) entered in the past year, only 2 (20%) are 2+ year veterans. This is an early-phase institutional idea — still being discovered. High upside potential if the thesis plays out, but thin conviction base.
📋
Smaller funds dominant — 1% AUM from top-100
1% from top-100 AUM funds
4 of 10 holders rank in the top 100 by AUM, but together hold only 1% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.