Based on 18 hedge funds · latest filing: 2026 Q2 · updated quarterly
📈
Buying streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds added PRAY 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.
📊
High ownership — 86% of 3.0Y peak
86% of all-time peak
18 funds currently hold this stock — 86% of the 3.0-year high of 21 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 14% fewer funds vs a year ago
fund count last 6Q
3 fewer hedge funds hold PRAY compared to a year ago (-14% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢
More buyers than sellers — 80% buying
12 buying3 selling
Last quarter: 12 funds were net buyers (4 opened a brand new position + 8 added to an existing one). Only 3 were sellers (1 trimmed + 2 sold completely). A clear majority buying is a strong confirmation signal.
➡️
Steady new buyers — ~4 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 0 → 5 → 6 → 4. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 39% entered in last year
■ 11% conviction (2yr+)
■ 50% medium
■ 39% new
Only 2 funds (11%) 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.
➡️
Steady discovery — ~4 new funds/quarter
3 → 0 → 5 → 6 → 4 new funds/Q
New funds entering each quarter: 0 → 5 → 6 → 4. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 28% veterans, 33% new entrants
■ 28% veterans
■ 39% 1-2yr
■ 33% new
Of 18 current holders: 5 (28%) held 2+ years, 7 held 1–2 years, 6 (33%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 9% AUM from top-100
9% from top-100 AUM funds
4 of 18 holders rank in the top 100 by AUM, but together hold only 9% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.