Based on 127 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 QTRX 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 — 77% of 3.0Y peak
77% of all-time peak
127 funds currently hold this stock — 77% of the 3.0-year high of 164 funds (reached 2023 Q4). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
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Outflows — 15% fewer funds vs a year ago
fund count last 6Q
23 fewer hedge funds hold QTRX compared to a year ago (-15% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟡
Slight buying edge — 54% buying
69 buying59 selling
Last quarter: 69 funds bought or added vs 59 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
➡️
Steady new buyers — ~19 new funds per quarter
new funds entering per quarter
Funds opening this position for the first time: 22 → 19 → 21 → 19. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒
54% of holders stayed for 2+ years
■ 54% conviction (2yr+)
■ 28% medium
■ 17% new
69 out of 127 hedge funds have held QTRX 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 -42%
Last quarter: funds added +4% more shares while total portfolio value only changed -42%. Institutions were buying while the price was falling — a high-conviction accumulation signal. They're deliberately loading up on the dip.
➡️
Steady discovery — ~19 new funds/quarter
38 → 22 → 19 → 21 → 19 new funds/Q
New funds entering each quarter: 22 → 19 → 21 → 19. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️
Veteran-anchored — 65% veterans vs 21% newcomers
■ 65% veterans
■ 14% 1-2yr
■ 21% new
Entry-cohort mix of 129 holders: 84 (65%) are 2+ year veterans, 18 entered 1–2 years ago, and 27 (21%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
✅
Strong quality — 30% AUM from major funds
30% from top-100 AUM funds
36 of 127 holders rank in the top 100 by AUM, accounting for 30% of total institutional value held. A meaningful share of the ownership value comes from the most well-resourced institutions.
Exit risk score 2.3/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.