I'm not arguing that 1.58 million shares is quite low, but does a mutual fund really care whether it buys 1,000 or 1,000,000 shares to get the same stake in the company? Is there a minimum number of shares that an investment manager is required to purchase in a company?
Take Berkshire Hathaway for example. The A shares have 943k outstanding while the B shares have a little over a billion. Do you think mutual funds care that they only own 5 shares of the A stock? I know this seems like apples to mountains since BRK is a billion times larger than VTSI and the share prices are vastly different, but the ownership principle is the same. 20,000 shares of the A stock is 5% of the company just the same as 20,000,000 shares of the B stock is 5% of the share count. Again, I'm just talking about the principle. There was a discrepancy in dollars traded, since only $54 million in A stock while 300 million in B stock were traded, but how many people day trade a $128,000 stock?