Actually anyone to everyone with any know how should have known and expected GDXJ to liquidated. I did not know, but know now. The fund has rules about ownership of stocks at certain valuations, and if stocks drop below these thresholds GDXJ must liquidate, must sell... to satisfy its own rules... and must sell within or by a certain specified time frame too; one week prior to end of month of end of the Quarter.
Large quantities of 22 million shares lots will be pre-negotiated, makes sense.
But what pissed me off, and what seemed inappropriate, if not illegal, was that the first 11 million share lot tranche posted with a time of sale during market hours, yet... was not on the tape during regular open session market hours, and did not affect BAA share price during regular open market hours, but rather was posted only after the market closed as a regular session trade. Only after the market closed did this 11 million share lot trade get posted as a regular session trade... Which also then (though it was posted after the market closed) none the less effected the regular session share price with a huge drop in share price. Saw it all happen on the Time and Sales.
Then there was a second tranch of 11 million shares sold afterhours which indeed posted correctly afterhours.
You say BAA is held down for a reason. What is, or are, the reason(s)? For what purpose?
AI
