I think you're spot on there.
Very liquid companies SPP will be sold quickly in a batch & many if not all will get the same price.
In times of low liquidation as we saw with HUB over the Christmas period SPP will be sold piecemeal when they can potentially over several days.
As I posted previously my opinion is that there should be an exclusion for companies, such as AQR, that have a low daily volume.
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I think you're spot on there. Very liquid companies SPP will be...
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