Based on 4 hedge funds · latest filing: 2025 Q4 · updated quarterly
📉
Selling streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds reduced or closed their ZYXI positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
🔻
Below peak — only 3% of 3.0Y high
3% of all-time peak
Only 4 funds hold ZYXI today versus a peak of 138 funds at 2023 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 — 96% fewer funds vs a year ago
fund count last 6Q
90 fewer hedge funds hold ZYXI compared to a year ago (-96% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 2% buying
1 buying51 selling
Last quarter: 51 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 — ~0 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 14 → 22 → 2 → 0. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
📌
Mixed — 25% long-term, 25% new
■ 25% conviction (2yr+)
■ 50% medium
■ 25% new
Of the 4 current holders: 1 (25%) held >2 years, 2 held 1–2 years, and 1 entered in the last year. A mixed base — the stock has long-term believers but also recent buyers who haven't been tested by a downturn yet.
⚠️
Saturation — most institutions already know this story
8 → 14 → 22 → 2 → 0 new funds/Q
New funds entering each quarter: 14 → 22 → 2 → 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.
📊
Mixed cohorts — 25% veterans, 50% new entrants
■ 25% veterans
■ 25% 1-2yr
■ 50% new
Of 4 current holders: 1 (25%) held 2+ years, 1 held 1–2 years, 2 (50%) entered in the past year. Balanced distribution — some institutional memory, some recent momentum buyers.
📋
Smaller funds dominant — 5% AUM from top-100
5% from top-100 AUM funds
1 of 4 holders rank in the top 100 by AUM, but together hold only 5% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.