Van Eck's ETFs have no view on the value of GOR. Their willingness to buy is purely a function of the supply in the market to meet their pre-determined dollar demand (percent weight in their portfolio).
What happened this week was pretty text book to how these rebalances have played out over the last couple of years. Once the market becomes aware of an addition the traders jostle for position that they can dump to Van Eck on Friday. GOR had clear strength in the sector on Wednesday on Thursday because of this. The jostling gets a bit out of hand and marks the price up too much and then it becomes a game of FONGO (fear of not getting out) and people start selling before the Friday closing auction. Ultimately the Friday closing auction is below the peak for the week.
I decided to reduce my holding yesterday.
Ann: March 2020 Quarterly Conference Call Details, page-49
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Last
$1.71 |
Change
-0.030(1.72%) |
Mkt cap ! $1.852B | |||
| Open | High | Low | Value | Volume |
| $1.72 | $1.72 | $1.70 | $2.971M | 1.736M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 12396 | $1.71 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.72 | 3919 | 1 |
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| Last trade - 16.10pm 30/07/2024 (20 minute delay) ? |
| GOR (ASX) Chart |