Seen this a few times - the funds try to buy in before the changes to the S&P indices are announced, so price actually falls on the reality.
MFG ran up a bit hard of late. Got a little ahead of itself by some measures. I know I always planned to start reducing once they hit $10bn in FUM, so maybe others have the same benchmark... it's much harder to double FUM from here and the $10bn is priced in.
However, still a solid stock and no real risk in holding it for the longer term, although a few months pullback and consolidation seems realistic here. Not sure what sentiment rating to put on this - short term sell, long term buy, medium term hold....
magellan continues to fall, page-5
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Last
$9.95 |
Change
-0.070(0.70%) |
Mkt cap ! $1.779B | |||
| Open | High | Low | Value | Volume |
| $10.04 | $10.13 | $9.92 | $3.725M | 372.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 2494 | $9.95 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.00 | 45242 | 13 |
View Market Depth
| Last trade - 16.10pm 27/09/2024 (20 minute delay) ? |
| MFG (ASX) Chart |