Following on from the odd pattern of trades we noticed last few weeks and seeing the price gravitating/capping circa 80c, I decided to call some old broker buddies and see which clearing house and who is behind the odd pattern of trades.
It sounds like UBS is building a position for one of their clients (no doubt through one of their nominee accounts) and anyone who knows anything about UBS knows they are not a discount broker, so would indicate their client who wants in, is of the same calibre of the other sophisticated types that has gravitated to the register of this quality company.
I hope they weren't trying to quietly accumulate a large position.
Anyone with broker data/half decent contacts can confirm my speculation.
BGD Price at posting:
80.0¢ Sentiment: Buy Disclosure: Held
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