Based on 21 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their DIG 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 — 84% of 3.0Y peak
84% of all-time peak
21 funds currently hold this stock — 84% of the 3.0-year high of 25 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉
Outflows — 5% fewer funds vs a year ago
fund count last 6Q
1 fewer hedge funds hold DIG compared to a year ago (-5% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 44% buying
8 buying10 selling
Last quarter: 10 funds reduced or exited vs 8 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 3 → 4 → 5 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
52% of holders stayed for 2+ years
■ 52% conviction (2yr+)
■ 33% medium
■ 14% new
11 out of 21 hedge funds have held DIG for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
💰
Value +310% but shares only +122% — price-driven
Last quarter: the total dollar value of institutional holdings rose +310%, but actual share count only changed +122%. The gap is explained by the stock's price rising — not new buying. Strong value growth with weak share growth means the rally is price momentum, not fresh institutional demand.
➡️
Steady discovery — ~3 new funds/quarter
5 → 3 → 4 → 5 → 3 new funds/Q
New funds entering each quarter: 3 → 4 → 5 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 68% veterans vs 12% newcomers
■ 68% veterans
■ 20% 1-2yr
■ 12% new
Entry-cohort mix of 25 holders: 17 (68%) are 2+ year veterans, 5 entered 1–2 years ago, and 3 (12%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 38% AUM from major funds
38% from top-100 AUM funds
7 of 20 holders rank in the top 100 by AUM, accounting for 38% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 3.1/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.