Accumulation/Distribution Line(ADL) is one of Marc Chaikin's (a...

Accumulation/Distribution Line(ADL) is one of Marc Chaikin's (a famous trader) inventions. It correlates a stocks daily closing price to it's daily high and low, multiplied by the days volume (in simplistic terms). Over time it gives an indication whether the stock is being accumulated(buying pressure) or distributed (selling pressure). The fact that PYGs ADL shows near constant decline ever since Canaccord took charge is a pretty strong signal that the people who participate in the CRs do not actually want to hold PYG but rather go in hoping to make a quick buck rather than invest in the business. its not what institutional investors typically do hence i dont think they are actually institutions.