What Happened?!? Why did SBB move up so much in price today? Likely because there is virtually no mutual/investment fund ownership left in SBB. Yesterday's blow-off of about 3 million shares was likely the last of it. Hopefully, this means all the losers are gone now. People who buy into a fund only pay attention to the performance of a fund and not the underlying equities owned by the fund. This means the the bulk of SBB is presently held directly by those that purchased its shares as opposed to "owning" SBB via a proxy agent (i.e., a fund). It will be interesting to see how things go moving forward.