Why worry about HFT, when our own director uses 11,750,000...

Why worry about HFT, when our own director uses 11,750,000 shares in Bandanna to cover a loan with UBS AG.

The deal was done on the 18th Jan.

The SP on 17th Jan opened at $0.32, hit a high of $0.35 and closed at $0.32. Six sessions later we end the week at $0.295.

Why?

Accumulated short positions in BND around that date are are follows;

16th Jan 15,452,151
17th Jan 16,952,151
18th Jan 17,927,361

Prior to the 16th the 10 day average accumulated shorts in BND were 15,474,561

So what triggered a 2.5mil jump on the 18th?

Considering the lack of transparency (ASIC endorsed) my guess is 2.5mil of 11.75mil has already been loaned out to a client.

Any wonder why we closed at $0.295 on Friday.