That’s exactly what’s going on - investment banks are...

That’s exactly what’s going on - investment banks are collectively dumping shares. Some are buying, some are selling, but overall, they’re net sellers. That’s what I said. I never claimed all investment banks were dumping, did I?

I also provided a detailed broker data table with more granular breakdowns for anyone interested.

What you’re saying is a bit odd. By that logic, you could make the same argument about any broker with a negative net value - yes, some clients buy and some sell, but collectively, the clients of that broker are selling.I think it’s pretty straightforward and doesn’t require a long explanation.

As for your comment — “in fact, the ‘net value’ of the institutions is still positive” — I don’t follow. Whether it’s positive or negative depends entirely on the start date of your range. Because net accumulation always starts from zero. If you begin the range in March, the net value will definitely be negative. If you start a year ago, it might be positive.But for me, it doesn’t matter whether the overall value is positive or negative.

The chart I provided clearly shows the pace of declining holdings. That’s something you won’t easily spot in a table. But on the chart, you can clearly see that what was accumulated over a year has been dumped in just a few months. Collectively!