Quite interesting, I know quite a few who are not on HC which would be close to 40M in total. All LTH and not selling.
My guess is half the float is held by LTH waiting for Divs.
We have churned through the other half of the float in the last 8 weeks hence why we may be back to low volume days. I would expect the recent churn has gone to medium to long term holders as well.
Does not leave much in the market at this stage.
ADN Holdings, page-33
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