Institutional activity on TOVC...
Thomsons is now showing the institutional trading activity to be at least 16% for the last rolling 30 day period...thats up from 15% late last week...which would indicate volume from Friday and/or today has some additional institutional participation...
Again from Thomsons...
"After a broker/dealer executes a trade, it often reports the trade to Thomson's proprietary communications network. The Total Trade Volume Chart segments each trade as either Institutional or Retail, based on the broker reporting the trade.
Institutional - a trade reported by a major brokerage firm which typically trades on behalf of major mutual funds/portfolio managers. While these firms also have retail branches, the amount of trades reported on behalf of institutional investors dwarfs the limited amount of retail trades that are reported.
Additionally, Institutional brokers often maintain internal house trading accounts as "market makers." When these firms report their trades it is impossible to determine whether the trades were executed on behalf of an institutional client or for the firm's own house trading accounts. While trading patterns for institutional clients and house accounts tend to differ, the fact that "Big Money" is behind the trades means that these investors/traders have the ability to move markets."
