From changes in top 20 shareholder changes from this year.
7 of top 10 increased there holdings this year
JP Morgan was biggest increasing by approx 30mil
Nearly 50 million of new shares went to top 20 holders
How many top 20 holders and the insto's would have off loaded ?
I'm tipping not many.
If selling occured from cap raising it may well be one or two who took lesser stakes and taking their quick profit. I doubt the big boys like JP morgan are after a relatively small net gain profit by selling 3-5 million shares, and in turn stiffle their significant remaining stake.
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