Based on 57 hedge funds · latest filing: 2022 Q4 · updated quarterly
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Selling streak — 2 quarters in a row
For 2 consecutive quarters, more hedge funds reduced or closed this position than added to it. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams deciding to exit.
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High ownership — 89% of 3.0Y peak
89% of all-time peak
57 funds currently hold this stock — 89% of the 3.0-year high of 64 funds (reached 2022 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 5% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold this stock compared to a year ago (-5% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
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More sellers than buyers — 47% buying
27 buying31 selling
Last quarter: 31 funds reduced or exited vs 27 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
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Steady new buyers — ~7 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 6 → 16 → 10 → 7. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Price up while funds trimmed (+5585% value, -17% shares)
Last quarter: total value of institutional PCSB holdings rose +5585% even though funds reduced share count by 17%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
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Peak discovery — momentum slowing
9 → 6 → 16 → 10 → 7 new funds/Q
New funds entering each quarter: 6 → 16 → 10 → 7. The stock is well-known in the hedge fund world but new entries are declining. The easy phase of institutional discovery may be behind us.
Exit risk score 2.6/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.