Block trading todayWith 461,000 shares traded today, there is only one block trade, this from a Morgan Stanley account, of a total of 104,000 shares sold in a single transaction at 11:43 am this morning. Morgan Stanley also had another 126,000 shares sell today in 197 separate transactions, with no buys from their account holders. Morgan Stanley has accounted for just under 50% of the sell volume so far today, but their accounts still hold over 4 million shares from net purcahses in February.
So, perhaps a few accounts having second thoughts about their long positions ahead of an expected closing on the $2.61 payout price. One account has at least decided a $2.21 closeout today is a better opportunity than maybe a $2.61 price next week (or a drop to the $1.77 we saw last week if the deal falls through?). No way of knowing what price the 104,000 shares were bought at, but my assumption it would have been close to the $2.41 average purchase price for Morgan Stanley accounts in February.