Based on 2 hedge funds · latest filing: 2023 Q4 · updated quarterly
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Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their SUAC positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
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Below peak — only 3% of 2.0Y high
3% of all-time peak
Only 2 funds hold SUAC today versus a peak of 61 funds at 2022 Q2 — just 3% 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 — 97% fewer funds vs a year ago
fund count last 6Q
59 fewer hedge funds hold SUAC compared to a year ago (-97% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
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Heavy selling pressure — only 0% buying
0 buying19 selling
Last quarter: 19 funds sold vs only 0 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
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Steady new buyers — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 5 → 3 → 4 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
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Saturation — most institutions already know this story
10 → 5 → 3 → 4 → 0 new funds/Q
New funds entering each quarter: 5 → 3 → 4 → 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.
Exit risk score 2.5/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.