State Street acts as custodian and stock lending agent for many institutional holders. It also manages a number of ETFs, including STW, which tracks ASX 200. STW buys ZIP when it is added to the ASX 200. It subsequently continues to buy* if punters buy units in STW and sell* if punters sell out of STW.
It isn't bad or good news, rather it is a consequence of being promoted into the larger cap index. Futures index arbitrage means more short interest as well... and again this doesn't mean anything either. Execution of the business strategy matters, SS buying/selling/lending/recalling doesn't.
*it isn't quite as direct as this as authorised participants are the ones doing the arbitrage between the STW and the basket of stocks that belong in STW, but either way, inflows result in STW (and therefore SS) holding more stock.
State Street acts as custodian and stock lending agent for many...
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Last
$2.66 |
Change
-0.090(3.27%) |
Mkt cap ! $3.472B | |||
| Open | High | Low | Value | Volume |
| $2.71 | $2.75 | $2.65 | $31.65M | 11.80M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 25 | 253841 | $2.66 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $2.67 | 18396 | 3 |
View Market Depth
| Last trade - 16.10pm 02/10/2024 (20 minute delay) ? |
| ZIP (ASX) Chart |