Based on 33 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their UVXY positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊
High ownership — 73% of 3.0Y peak
73% of all-time peak
33 funds currently hold this stock — 73% of the 3.0-year high of 45 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 13% fewer funds vs a year ago
fund count last 6Q
5 fewer hedge funds hold UVXY compared to a year ago (-13% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 26% buying
15 buying43 selling
Last quarter: 43 funds sold vs only 15 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~11 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 15 → 14 → 14 → 11. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔄
Mostly new holders — 33% entered in last year
■ 21% conviction (2yr+)
■ 45% medium
■ 33% new
Only 7 funds (21%) 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.
💰
Price up while funds trimmed (+65% value, -52% shares)
Last quarter: total value of institutional UVXY holdings rose +65% even though funds reduced share count by 52%. The stock price increased enough to offset the selling. Institutions are quietly trimming into price strength — watch for rotation.
➡️
Steady discovery — ~11 new funds/quarter
13 → 15 → 14 → 14 → 11 new funds/Q
New funds entering each quarter: 15 → 14 → 14 → 11. Consistent flow of new institutional buyers without clear acceleration or slowdown.
📊
Mixed cohorts — 5% veterans, 38% new entrants
■ 5% veterans
■ 56% 1-2yr
■ 38% new
Of 39 current holders: 2 (5%) held 2+ years, 22 held 1–2 years, 15 (38%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 2% AUM from top-100
2% from top-100 AUM funds
5 of 33 holders rank in the top 100 by AUM, but together hold only 2% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.