If we saw an institution taking a 5% interest, that would be around 8 million shares, much more than has traded over any recent period.
An institution may look at getting a large stake by a combination of:
Placement,
Off market sale by the CEO,
Accumulating shares on market slowly over time.
A higher than normal volume on a price spike looks to me like a number of investors taking an interest and wanting to buy at the same time due to some news article, tipster or broker coverage.
You could look at MVP to see a company which has grown from $60m to $200m market cap over the last 12 months, with the CEO reducing his holding from 50+%.
CMP Price at posting:
30.0¢ Sentiment: Buy Disclosure: Held
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