But there are plenty of valid reasons to do it aslo
I remember once invested in a real low float and we saw a huge t trade
After calling the company they explained it was a large shareholder who recently had a divorce and as a settlement had to move half his shares into his spouses account
This type of large transaction would show up as a x/t trade
I am sure there are other valid reasons
The important point is it cannot mathematically have been dilution as the trades would have to have appeared during the day and the avg is too low when looking at the total volume and the trading tape.