I think that it is only funds (like Regal) balancing their portfolios at end of the month. Some funds get heavy in resources while others get heavy in industrials - to keep their mandate and percentage allocations they trade with each other at a pre agreed price. If it was an entity looking to build a stake (eg. takeover etc) then you see XT after hours - the broker accumulates and then at the end of period transfers to the client.
General discussion, page-6051
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