China-Biotics, Inc. (CHBT)

[viking86]

The report you probably referred to is for the third quarter report period, so all institutional transactions reported are "as of" 09/30/2010 although the report came out on Nov 15 since institutions have 45 days to file changes in their hodlings:

http://www.nasdaq.com/asp/holdings.asp?symbol=CHBT&selected=CHBT&FormType=Institutional

It looks like for this report period there was a net decrease of about 2m institutional shares of which Pope was indeed the biggest seller with 1.67m shares sold and FMR sold about 1m shares. On the other hand, 20 inst. added to their position in that period. I have no insight in the motives of each seller except for the guess that it was mostly the "sell first ask later" knee-jerk reaction to the massive short attack that was carried out b/w late Aug and the first half of Sep. Note also that many fund managers may have felt the need for some "window dressing" as Sep 30 marks the end of their Q3 when their portfolio holdings are disclosed to shareholders.

If I remember correctly, the Citron.com and CCA hit pieces came out b/w Aug26 to the first week of Sep, while Investor Day was held on Sep 20 and effectively refuted many of the attack points but probably too late for the massive selling that had occurred mostly in the days and weeks immediately following the attack. It would be interesting to see the inst. holdings in the current report period that won't come out until Feb 15 imo.