Yeah I agree @spinc and I've been giving this some thought. It seems really unprofessional to just dump a massive order like that. It's a momentum killer.
Looking over at PLS and GXY, their auctions went a little different. Before the large sell order from LIT ETF, there was a large buy order placed. See the before and after shots below for GXY.
Yesterday on AGY it seemed as though there was an iceberg sell sitting at 5.6. Anytime something came up it was sold into straight away, so maybe their intention was to simply hold the price at 5.6 until they were all sold out, meaning they first tried to see if anyone was interested in the whole parcel in the auction the day before.
Anyways, it seems purely academic now. A large XT trade for 4 million shares just went through, 10 million shares for the day and 4 million yesterday. I'd say they're out now. Might bounce here.
GLOBAL X LIT ETF FUND TOTAL, page-459
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