Its an automated process by bits. They are pre programmed to occur in the 4pm to 4.15pm timeslot to try and.......
If you look up every share on the asx for trades in that time frame you will be shocked to see how many single share trades there are. It's quite incredible because at the retail level we can't buy or sell 1 share.
Now let me also share how most of the brokers and fund managers work. My experience when I was a trustee for a super fund. At the time Westpac had our equities portfolio. They had a mandate of 25 to 35% for domestic equities. They obviously had loads of other clients. To keep this short, all of their positions per stock is pre set. At around 3.45pm they do their attribution reports to see how their positions look per stock and per portfolio. They then frantically readjust their holdings otherwise they get heavily fined.
So the sp movement on shares reflects current Ann's and advancements but also their mandates.
Now, the above is a bit of a rant and I can assure you that no fund manager would have vrx as a stand alone share that they watch and include in any portfolio but, back on track, brokers have a huge list of shares that their bits do a single trade at the end of he day.
Sorry for the rant.
