Based on 17 hedge funds · latest filing: 2026 Q2 · updated quarterly
📉
Selling streak — 1 quarter in a row
For 1 consecutive quarter, more hedge funds reduced or closed their DIVS 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 — 81% of 3.0Y peak
81% of all-time peak
17 funds currently hold this stock — 81% of the 3.0-year high of 21 funds (reached 2024 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 19% fewer funds vs a year ago
fund count last 6Q
4 fewer hedge funds hold DIVS compared to a year ago (-19% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠
More sellers than buyers — 47% buying
9 buying10 selling
Last quarter: 10 funds reduced or exited vs 9 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: 4 → 1 → 4 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
65% of holders stayed for 2+ years
■ 65% conviction (2yr+)
■ 29% medium
■ 6% new
11 out of 17 hedge funds have held DIVS 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.
➡️
Steady discovery — ~3 new funds/quarter
3 → 4 → 1 → 4 → 3 new funds/Q
New funds entering each quarter: 4 → 1 → 4 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 65% veterans vs 24% newcomers
■ 65% veterans
■ 12% 1-2yr
■ 24% new
Entry-cohort mix of 17 holders: 11 (65%) are 2+ year veterans, 2 entered 1–2 years ago, and 4 (24%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋
Smaller funds dominant — 15% AUM from top-100
15% from top-100 AUM funds
2 of 17 holders rank in the top 100 by AUM, but together hold only 15% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.