The broker data from yesterday confirms that UBS were responsible for over 50% ($18.6m) of the dollar volume of shares traded. Deutsche Bank came a distant second with about $4.8m. We will not know until Friday whether either were net sellers or buyers.
Given the huge crossing have continued today, I would say someone is accumulating a stake in GPT at these depressed prices. As I said yesterday, with the large number of securities on issue, it might take some time before we see a new sub holder notice (5% of shares on issue) or an increase in an existing one (+1% of shares on issue).
This doesn't necessarily mean someone is going to go after the whole company, but it seems to indicate someone is heavily buying in a falling market.
GPT Price at posting:
37.8¢ Sentiment: None Disclosure: Not Held
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