RE:RE:RE:16 million on the close, 25+ million volumeCheck TMX. The total volume was approx 57 million shares. That is 14% of the entire float. You get a week like this and the entire float can change hands. Biggest one day volume ever on EDV. Cannot be attributed all to GDXJ rebalancing. Vaneck holds approx 56 million shares in EDV. And the rebalancing dropped the holding from 1.6% to 1.45%. Not a big change as it equates to a reduction of .15% of 56 million shares which is approx 84000 shares !!
Also, check extended hours trading, there was a special cross of 24 million+ shares from "Anonymous" to "Anonymous". The interesting is that this was at 41 cents which is the same as MOC trade price but after this cross trades kept on going till 16:59 EST and all the trades were at 43 cents.
IMO, this is a combination of "Tax Loss Selling" and "Window Dressing" for EOQ and EOY. Funds can create a really nice tax loss by selling a P#S stock like EDV to offset the spectacular gains they have made in the broad market. Stocks like EDV are "pariah" stocks whose main purpose is to create tax losses at year end. This, I believe, is the 5 th year in a row for EDV to be used for this purpose.
This is a "DAWG"