The massive disparity between selling ($28.9M) and buying ($368K) suggests informed capital is exiting HLVX. Monitor for further institutional selling in Q4 2024 13F filings and any associated 8-K disclosures that might explain the exodus. The 0% analyst bullish consensus (4 Hold, 3 Sell/Strong Sell) aligns with the bearish institutional signal.
Executive Summary
A mixed institutional cluster in HLVX for Q3 2024 shows 7 small buyers (aggregate current holdings $368K) versus 5 sellers who offloaded $28.9M in value, led by Janus Henderson's full exit of a $16.1M position and Citadel trimming $7.4M. The buying side is dominated by tiny asset-manager positions (most under $200K), while the selling side features large, conviction-driven reductions, creating a bearish net signal despite the buyer count advantage.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$28.6M
▲ Buyers (7)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Nisa Investment Advisors | DOUBLED | +838.5% | $215.00 | $27.00 |
| Cwm | DOUBLED | +2250% | $1.00 | $1.00 |
| Voya Investment Management | DOUBLED | +676.1% | $149.0K | -$8.7K |
| Mirae Asset Global Etfs Holdin | ADD | +36.1% | $31.0K | -$157.0K |
| Russell Investments Group | DOUBLED | +1117% | $16.0K | $5.0K |
| Federated Hermes | DOUBLED | +290.8% | $9.0K | -$10.2K |
| Zacks Investment Management | DOUBLED | +411.9% | $163.0K | -$98.8K |
▼ Sellers (5)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Schwab | TRIM | -66.4% | $3.3M | -$3.1M |
| Citadel | TRIM | -67% | $7.7M | -$7.4M |
| Dimensional Fund Advisors | TRIM | -52.4% | $2.2M | -$2.1M |
| Janus Henderson Group | EXIT | -100% | $16.1M | -$16.1M |
| Legal & General Group | NEAR_EXIT | -86.4% | $307.0K | -$301.8K |
Key Facts
- 7 institutional buyers accumulated only $368K in current holdings, with net dollar change of -$270K (most positions shrank in dollar value despite share increases)
- 5 institutional sellers reduced holdings by a combined $28.9M, including Janus Henderson's full exit of a $16.1M position
- Citadel trimmed 67% of its HLVX position, removing $7.4M in value
- All buyers are asset managers with tiny positions (max $163K); no activist or high-conviction funds were among the buyers
- The cluster is dominated by active managers on both sides, but the selling side has far larger absolute dollar amounts
Financial Impact
Institutional sellers removed $28.9M in HLVX holdings during Q3 2024, while buyers added only $368K in current value — a net $28.5M outflow from tracked institutions.
Risk Factors
- 13F data has a 45-day reporting lag; positions may have changed since quarter-end
- Small buyer positions may reflect passive index rebalancing rather than active conviction
- Janus Henderson's full exit could signal a thesis-breaking event not yet publicly disclosed
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-HLVX-2024-Q3 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Jun 12, 2026 19w ago | Institutional Cluster | — | awaiting T+20 | — | — |
Feb 28, 2026 34w ago | Institutional Cluster | — | awaiting T+20 | — | — |
US Market Status
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