Monday, June 27, 2016 9:25:40 PM
I think TC Trader helped clear up some of the action when he said that the market maker appeared to be matching up buys and sells during the day which is what led to the low volume being reported for about 3 hours. TC Trader said he would need to check further about after hours trading but that during the day it was mainly UBS causing most of the activity. Whether institutions actually held the shares or could lend them out might depend on the actual rules governing where those shares could actually be held. I think maverick 1 was trying to make clear that the brokerages that actually hold retail shares are the ones that can lend them out when a margin account is used. This may also apply, but I am not sure, to institutions that purchase the shares with a margin account but have them held by other brokerages that then might lend them out if this is even possible, which I suppose would be contingent upon the governing rules. If this is possible then reports would show them as held by institutions when in fact the rights to recover them might be all they have because they were lent out by the brokerage, that was their holding agent, to be sold short by a third party. I hope TC Trader has time to bring some additional clarity to this and the after hours trading. Best wishes.
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