The latest ann strongly suggests this as Merrill are borrowing some large parcels, perhaps from Bank of America who have increased their holding to just under 50m with strong accumulation over the last three months or from Regal Funds Management who also have around 35m shares. They have an association with these companies through their international prime brokerage agreement of which borrowing for shorts would be written in.
In my opinion eyes should be leveled on BoA’s behaviour over the last 12 months in that they are not selling but increasing exposure.
I agree that the trading since the 22nd (the last anned purchase by Merrill on behalf of BoA) has the feeling of further accumulation by BoA.
OSL Price at posting:
17.0¢ Sentiment: Hold Disclosure: Held
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