Based on 4 hedge funds · latest filing: 2024 Q4 · updated quarterly
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Selling streak — 3 quarters in a row
For 3 consecutive quarters, more hedge funds reduced or closed their TGAAF 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 8% of 3.0Y high
8% of all-time peak
Only 4 funds hold TGAAF today versus a peak of 51 funds at 2023 Q1 — just 8% 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 — 83% fewer funds vs a year ago
fund count last 6Q
20 fewer hedge funds hold TGAAF compared to a year ago (-83% 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 7% buying
1 buying14 selling
Last quarter: 14 funds sold vs only 1 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~1 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 4 → 4 → 1. 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 (-0% value, -55% shares)
Last quarter: total value of institutional TGAAF holdings rose -0% even though funds reduced share count by 55%. 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
4 → 3 → 4 → 4 → 1 new funds/Q
New funds entering each quarter: 3 → 4 → 4 → 1. TGAAF is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
Exit risk score 2.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.