The cluster shows a clear seller dominance by dollar amount, but Citadel's large percentage add signals potential value. Monitor YMAX for further institutional accumulation or continued selling. Given the small absolute dollar amounts, price impact may be limited.
Executive Summary
Institutional cluster for YMAX (Tidal Trust II) in Q3 2025 shows mixed signals: two funds (Citadel and Envestnet) added positions worth $1.1M, while three funds (Wells Fargo, Morgan Stanley, RenTech) trimmed or nearly exited, with RenTech cutting $3.16M. Net selling of ~$2.79M suggests cautious sentiment, though Citadel's add provides some counterweight.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$2.8M
▲ Buyers (2)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Citadel | ADD | +85% | $860.0K | $360.0K |
| Envestnet Asset Management | ADD | +48.6% | $210.0K | $58.0K |
▼ Sellers (3)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Wells Fargo | TRIM | -66.7% | $36.00 | -$23.00 |
| Morgan Stanley | NEAR_EXIT | -96.2% | $54.0K | -$52.2K |
| RenTech | TRIM | -70.7% | $4.3M | -$3.2M |
Key Facts
- Citadel added 85% (shares 36.3K to 67.1K, value +$360K)
- Envestnet added 48.6% (shares 11.0K to 16.4K, value +$58K)
- RenTech trimmed 70.7% (shares 315.5K to 92.4K, value -$3.16M)
- Morgan Stanley nearly exited (-96.2%, value -$52K)
- Wells Fargo trimmed insignificantly (3 to 1 share, value -$23)
- Total buying value $1.07M vs total selling value of prior positions $4.35M
Financial Impact
Net institutional selling of approximately $2.79M (buyers added $419K, sellers reduced $3.21M). RenTech's trim accounts for the majority of selling.
Risk Factors
- RenTech's significant trim could indicate bearish outlook on YMAX's underlying strategy
- 13F data is 45 days delayed; positions may have already changed
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-YMAX-2025-Q3 |
US Market Status
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