If you look at the Q2 reweighting table for the MVIS MVREMX index posted above you will see that MVIS has assigned zero net present value to AVZ and deleted it from the index. This means that Van Eck will need to dispose of a further 69.965m of the shares it holds as of 9/6/2022.
Depending on what portion of this holding Van Eck currently has lent out to short sellers Van Eck may be able to achieve somewhat better than zero value if the short sellers have to buy from Van Eck as the only way of covering their short positions with the stock suspended. i.e. change their position from borrowing AVZ from Van Eck to an off market purchase from Van Eck.
Once Van Eck has complete the reweighting and assuming the total number of shares held in the fund does not change significantly it may be possible to get a rough idea of what sale price Van Eck has achieved for AVZ by tracking the change in AVZ holdings, the change in cash position of the fund and the change in number of shares held in the the other holdings. Generally the change in the holdings of individual components between reweightings only varies with either selling to pay distributions which happens in December or purchases to cover increased investments in the fund, ie. number of REMX shares on issue. Any funds Van Eck realises from the sale on AVZ will be re-invested in proportion in the other components so need to track these changes for the calculation.
Would not be a simple task but may give a general indication of whether Van Eck gets $0.10 per share, $0.50 per share or $1.00 per share. If Van Eck can get anything above zero it will be outperforming the MVIS index. If Van Eck bales out of AVZ before the this current rebalance has stabilsed it is not really possible to calculate a realised value.
Van Eck will no doubt try to mimimise its losses on AVZ so will also be looking for other parties to take AVZ of its books so if they do provide any guidance to the market on what value they assign to any shares they hold it will be interesting for all.
DYOR and calculations and maybe come up with a number.
