Inclusion to the ASX requires a vast amount of ETFs and all manner of others to buy ZIP shares to keep compliance with the terms of the funds. The rebalance each 3 months sees companies coming and going, and this event including ZIP is due to a company in the ASX200 having been taken over, so it can no longer be part of it.
If a company was to suddenly gain entry and everybody piled in to buy shares to comply with ETFs for instance, there would be an opportunity for shareholders to hold them over a barrel and demand a high price. The ASX wishes to avoid that, so gives notice in advance as well as ensuring sufficient liquidity each day over a successive period so that there is enough for everybody to buy. Among that is the daily closing auction whereby 2 minutes after close of the market the ASX 'dictates' a price based on weighted average of the day's trading and makes stock available to buyers. It is not a price sensitive auction, it is a list of orders to be filled, which assist to satisfy the orderly entry of a company to the ASX200 without belting the price up.
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Last
$2.23 |
Change
-0.010(0.45%) |
Mkt cap ! $2.835B |
Open | High | Low | Value | Volume |
$2.26 | $2.27 | $2.21 | $3.853M | 1.720M |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
17 | 67601 | $2.22 |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
$2.23 | 64307 | 17 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
19 | 176526 | 2.210 |
30 | 137644 | 2.200 |
17 | 134195 | 2.190 |
22 | 257221 | 2.180 |
8 | 253664 | 2.170 |
Price($) | Vol. | No. |
---|---|---|
2.220 | 62087 | 18 |
2.230 | 121286 | 18 |
2.240 | 99563 | 13 |
2.250 | 170780 | 21 |
2.260 | 182148 | 17 |
Last trade - 10.32am 20/08/2024 (20 minute delay) ? |
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ZIP (ASX) Chart |