EGR broker data or "how did I miss it?"
Gonna give a quick overview of broker data for EGR. Unfortunately, I missed myself a very good setup where professional investors were quite aggressively buying from retail investors while the price was below 16c.
Broker data for the past 2 weeks.
Top buyers:
- BTIG: $725K
- Jefferies: $345K
- Instinet: $111K
Top sellers:
- Barrenjoey: -$783K
- Commonwealth Securities (retail): -$334K
- FinClear Execution: -$141K
- AIEX (retail broker): -$119K
As the data indicates, retail brokers (servicing retail investors) are selling to professional brokers.
To get a better picture on the magnitude of selling we can have a look at the following chart that shows combined accumulation of shares by four retail brokers - (CommSec, AIEX, CMC Markets and Wealthhub)As you can see, retail brokers were selling for the past few months however the speed of distribution has increased significantly after announcement on March 4 - Epanko 'Life of Mine' Special Mining Licence Granted.Basically, that
shift in shares holding indicates very positive sentiment from professional investors.
Here is another chart, that shows combined accumulation by 7 investment banks - (Citigroup, Goldman Sachs, Macquarie, Merrill Lynch, J.P. Morgan, Morgan Stanley, UBS) - as you can see, the accumulation by this group of brokers started to grow rapidly over the past 2 weeks.
Another interesting visualization shows how shares changed hands over the past 2 weeks.
Here is accumulation by BTIG and Jefferies.
(20min delay)