It's always been a mechanical purchase. During that period new...

It's always been a mechanical purchase. During that period new investors were coming in, and Global X - URA created new units.
When they create new units they are forced to buy the same index composition of shares.
If I remember correctly the Units about 12 months ago was about 43M URA, now they are up to 55M URA.

This composition was approximately 0.40% of the index.

With GGG share price in decline, Global X - URA was buying up very cheap shares, but there was no logic to the purchases; it is only to satisfy the index composition.

Now the index composition is changing - the situation is terminal. (until a scheme of arrangement is announced, after strategic review; but this will be too late for the share price).

--
URA is taking time to the do the current rebalance as they need to turnover enough stock to fit $110M purchase of the Sprott Physical Uranium Trust; and include 4 new ASX shares, and 2 from TSE.

Unfortunately there is no connection to Uranium for GGG share now, which is danger to shareholder value. And a golden opportunity to the syndicate short; which will likely present an accelerated scheme of arrangement when the VWAP is below cash level.

There were a couple of German (transition metals funds):
Konwave
GR Dynamik

But they don't seem to mentioned or discuss their GGG holding, likely they have already taken the loss, and offset with gains from other holdings.