Longwei Petroleum (fka LPIH)

[rru2s]

That would not be legal, for sure.

My understanding is that redemption requires registering the shares that are created which involves some timeframe - perhaps similar to the settlement time for stocks. After that time you have a live share that can be held or traded.

And no, I do not think 100 percent of the volume in the last 3 days was warrant redemption. Frankly, it is likely that less than 10 percent of the volume was redemption because folks could have bought shares on the open market a week ago for $1.90 to $2.05. And the rebound volume from $1.90 back up to $2.15-$2.20 was quite small, indicating not many folks were buying.