MLX broker data.
Looking at the chart, the price is breaking upper trendline and accelerating.
Now, let's have a look at broker data. Here is broker data for the past month:
Top buyers:
- Canaccord Genuity: $5.69M
- Interactive Brokers: $4.12M
- UBS Securities: $2.56M
- Morgan Stanley Securities: $1.87M
Top sellers:
- FinClear Execution: -$4.02M
- Argonaut Securities: -$3.09M
- Goldman Sachs: -$2.28M
- Commonwealth Securities: -$2.15M
The first noticeable thing here is that all retail brokers are on the sell side. That means that retail investors sell to professional investors who see more value at current price levels.
Let's look at accumulation by retail investors in the context of the year.The chart shows accumulation/distribution by a group of retail brokers (CommSec, AIEX, CMC Markets and Wealthhub) over a year.
Here we can see the decline in holdings of retail investors that means that professional investors as a group buy more than sell. This is a pretty positive indicator.
Here is another interesting chart. It shows the accumulation by subgroup of professional investors -
7 investment banks - (Citigroup, Goldman Sachs, Macquarie, Merrill Lynch, J.P. Morgan, Morgan Stanley, UBS).There was pretty solid selling by this group of investors, but starting from Feb 2025 we can see a pivot and looks like investment banks started to accumulate again - not much yet though.
At the moment, buying pressure comes mostly from Canaccord Genuity, UBS Securities and J.P. Morgan.
However, Interactive Brokers also joined the party with a big buy recently.
Here is another nice visualization showing how shares changed hands over the past week.
(20min delay)