I would imagine many of them seeing the 1st quarter are adding and those who don't own are starting positions.
Based on Nasdaq numbers, 110 institutions own 17,124,100 shares or 30.8%. Drilling down the list, however, shows that some institutions still have to update their December 2002 numbers, but the trend is clearly our friend.
23 institutions started new positions averaging 112,138 shares. 10 institutions closed out their positions averaging 21,516 shares. Stronger buyers, weaker sellers.
The average institutional holding is 155,674 shares.
63 institutions increased positions by an average of 79,734 shares while 37 institutions decreased positions by an average of 37,063.
These are the kind of accumulation/distribution patterns I like to see.
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