Elite Pharmaceuticals Inc (ELTP)

[imanjen13]

With 5 million share volume on no news and on a bad day for the market, I think we can posture that new investors are finding this stock. Long time, big holders here are apparently holding thud creating shortage on the offer. Without institutional ownership due to caveats in their charter, volume here has historically been a modest 1-2M shares per day.

Currently there is only one institution, Fisher Asset Management, which holds a mere 82,000 shares per their last report at the end of September. Perhaps they are accounting for the new volume.

Another possibility is that this is front running some major event soon to be announced since the ER is still a month away.