Dorel Industries Ord Shs Class A T.DII.A

How and why do 750,000 shares trade at exactly 4:00?

[subliminal23]

I looked at the volume today and apparently 750,000 share were traded exactly at 4:00 and the share price doesn't move.  Clearly this is a sophisticated buyer/ seller.  Or is this a buyback?

[nozzpack]

That was the shorts covering in a block cross at 1600. The huge volume was in part the wash trading necessary to keep the price contained. So, with price containment by the shorts now absent, we should move upward at a brisker pace

[nozzpack]

Recent Trades - Last 10 of 3930 Time ET Ex Price Change Volume Buyer Seller Markers 16:00:22 X 27.40 -0.55 178,100 65 Goldman 65 Goldman Z 16:00:00 T 27.40 -0.55 100 53 Morgan Stanley 72

[jmkOttawa]

Sounds like an agreed upon transaction between a sophisticated buyer and seller...? But why....?

[subliminal23]

Ok,  I got more information.  It looks like Goldman Sach bought and sold stocks in equal amounts.  They are likely long and it is a tax play selling long and buying back in will create a short term loss after the dividend.

[nozzpack]

Possibly. Had not thought about that. But, note the KQ trading symbol. Right to eod trade. Usually conferred to the shorter..