Based on 6 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their NJDCY 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 35% of 3.0Y high
35% of all-time peak
Only 6 funds hold NJDCY today versus a peak of 17 funds at 2025 Q2 — just 35% 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 — 65% fewer funds vs a year ago
fund count last 6Q
11 fewer hedge funds hold NJDCY compared to a year ago (-65% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 25% buying
1 buying3 selling
Last quarter: 3 funds sold vs only 1 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 0 → 0 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
83% of holders stayed for 2+ years
■ 83% conviction (2yr+)
■ 17% medium
■ 0% new
5 out of 6 hedge funds have held NJDCY 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.
💰
Price up while funds trimmed (+15% value, -15% shares)
Last quarter: total value of institutional NJDCY holdings rose +15% even though funds reduced share count by 15%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~0 new funds/quarter
2 → 0 → 0 → 0 → 0 new funds/Q
New funds entering each quarter: 0 → 0 → 0 → 0. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 83% veterans vs 0% newcomers
■ 83% veterans
■ 17% 1-2yr
■ 0% new
Entry-cohort mix of 6 holders: 5 (83%) are 2+ year veterans, 1 entered 1–2 years ago, and 0 (0%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆
Elite ownership — 51% AUM from top-100 funds
51% from top-100 AUM funds
1 of 6 holders are among the 100 largest funds by AUM, controlling 51% of total institutional value in NJDCY. 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.