Based on 31 hedge funds · latest filing: 2026 Q1 · updated quarterly
📉
Selling streak — 7 quarters in a row
For 7 consecutive quarters, more hedge funds reduced or closed their ECXWW 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 63% of 3.0Y high
63% of all-time peak
Only 31 funds hold ECXWW today versus a peak of 49 funds at 2023 Q3 — just 63% 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 — 24% fewer funds vs a year ago
fund count last 6Q
10 fewer hedge funds hold ECXWW compared to a year ago (-24% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🔴
Heavy selling pressure — only 38% buying
5 buying8 selling
Last quarter: 8 funds sold vs only 5 buyers. This is widespread institutional distribution — not a few funds rebalancing, but a broad exit. High conviction bearish signal.
➡️
Steady new buyers — ~3 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 1 → 2 → 1 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
81% of holders stayed for 2+ years
■ 81% conviction (2yr+)
■ 3% medium
■ 16% new
25 out of 31 hedge funds have held ECXWW 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.
💎
Buying through price weakness — shares -4%, value -28%
Last quarter: funds added -4% more shares while total portfolio value only changed -28%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~3 new funds/quarter
2 → 1 → 2 → 1 → 3 new funds/Q
New funds entering each quarter: 1 → 2 → 1 → 3. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Deep conviction — 84% of holders stayed 2+ years
■ 84% veterans
■ 0% 1-2yr
■ 16% new
Of 31 current holders: 26 (84%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
📋
Smaller funds dominant — 3% AUM from top-100
3% from top-100 AUM funds
5 of 31 holders rank in the top 100 by AUM, but together hold only 3% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
Exit risk score 2.2/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.