Based on 74 hedge funds · latest filing: 2020 Q1 · 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 — 94% of 3.0Y peak
94% of all-time peak
74 funds currently hold this stock — 94% of the 3.0-year high of 79 funds (reached 2019 Q3). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Stable — ownership unchanged year-over-year
fund count last 6Q
The number of hedge funds holding this stock is almost the same as a year ago (-1 funds, -1% change). No significant rush to buy or sell — the institutional base is holding steady.
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Slight buying edge — 51% buying
41 buying39 selling
Last quarter: 41 funds bought or added vs 39 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
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Steady new buyers — ~15 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 14 → 15 → 14 → 15. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Buying through price weakness — shares -4%, value -56%
Last quarter: funds added -4% more shares while total portfolio value only changed -56%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
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Steady discovery — ~15 new funds/quarter
17 → 14 → 15 → 14 → 15 new funds/Q
New funds entering each quarter: 14 → 15 → 14 → 15. Consistent flow of new institutional buyers without clear acceleration or slowdown.
Exit risk score 2.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.