Is institutional ownership increase in Q3 due to merger? Institutional ownership in BTE increased by more than 101 million shares in Q3. Is this simply the result of new shares being issued to institutional holders of Raging River Exploration following the merger? Or is it due to Institutions actually buying shares of BTE directly on the open market during Q3. The merger transaction closed in August, and Q3 ended on September 30.
Institutions "acquired" 124 million shares and "disposed" of 23 million shares of BTE to own 176.6 million shares (31.88 % of total shares outstanding) at the end of Q3, compared to owning a total of 75.1 million shares at the end of Q2:
https://www.nasdaq.com/symbol/bte/institutional-holdings/new