INDI ranks #2709 out of 37501 tracked stocks by institutional interest — one of the most closely watched names in our coverage.
INDI is a top-conviction position for Elemental Capital Partners LLC — at 12.6% of their entire disclosed 13F portfolio, it's one of their largest single bets, not just a passing allocation.
The largest dollar stake in INDI belongs to California State Teachers Retirement System, but the position matters far more to Elemental Capital Partners LLC, who has 12.6% of their own portfolio riding on it — a reminder that the biggest holder by size and the holder with the biggest bet aren't always the same fund.
State Street has added to its INDI position for two straight quarters, increasing it by $51.3M to reach $83.1M today.
Meros Investment Management, LP has trimmed its INDI position for two straight quarters, cutting it by $4.0M while still holding $3.5M.
INDI is down 6.4% today, but institutions show net buying of $117.3M this quarter — a divergence between today's price move and the underlying institutional flow.