Based on 5 hedge funds · latest filing: 2024 Q4 · updated quarterly
📉
Selling streak — 5 quarters in a row
For 5 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.
🔻
Below peak — only 9% of 3.0Y high
9% of all-time peak
Only 5 funds hold this stock today versus a peak of 53 funds at 2022 Q4 — just 9% 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.
📉
Outflows — 79% fewer funds vs a year ago
fund count last 6Q
19 fewer hedge funds hold this stock compared to a year ago (-79% decline). When institutions consistently reduce exposure, it's worth asking what they know that retail investors don't.
🔴
Heavy selling pressure — only 0% buying
0 buying15 selling
Last quarter: 15 funds sold vs only 0 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: 2 → 2 → 1 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
40% of holders stayed for 2+ years
■ 40% conviction (2yr+)
■ 60% medium
■ 0% new
2 out of 5 hedge funds have held this stock for over 2 years without selling. Long-term holders are harder to shake out during market dips — they represent a stable ownership base that reduces the risk of sudden mass selling.
💰
Price up while funds trimmed (-22% value, -54% shares)
Last quarter: total value of institutional PHYTF holdings rose -22% even though funds reduced share count by 54%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
⚠️
Saturation — most institutions already know this story
0 → 2 → 2 → 1 → 0 new funds/Q
New funds entering each quarter: 2 → 2 → 1 → 0. 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.
🏛️
Deep conviction — 40% of holders stayed 2+ years
■ 40% veterans
■ 40% 1-2yr
■ 20% new
Of 5 current holders: 2 (40%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
✅
Strong quality — 20% from major AUM funds
20% from top-100 AUM funds
1 of 5 current holders rank in the top 100 by AUM. A meaningful share of the ownership base comes from the most well-resourced institutions.
Exit risk score 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.