I don't think PLS going into the top 50 is really a material event.
Most passive index funds are based on the top 200 (ASX 200). So moving from 199 to 198 or 51 to 50 doesn't really make much difference.
What does make a difference, is that PLS is no longer investable for small cap managers. So a lot of selling will be small cap managers being forced to remove PLS from their fund. Small caps are Ex-50. The small cap index is not really relevant for passive flows since nobody buys small cap passive ETF's in Australia. So the move up to 50 may in fact be a negative event for PLS.
This could be why we have seen so much selling, which conversely for the retail investor could be an opportunity to buy PLS cheaper.
Good News & Bad News, page-19139
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Last
$2.88 |
Change
0.210(7.87%) |
Mkt cap ! $8.672B | |||
| Open | High | Low | Value | Volume |
| $2.76 | $2.88 | $2.74 | $151.4M | 53.48M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 8000 | $2.87 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.89 | 377420 | 16 |
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| Last trade - 16.10pm 12/09/2024 (20 minute delay) ? |
| PLS (ASX) Chart |