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15/02/18
09:56
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Originally posted by jdon
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Last night there were two announcements. The first: "Becoming a substantial holder from MQG". The second: "Becoming a substantial holder for TGR".
In each of these documents are hundreds of share transactions that appear to be TGR share purchases and sales by Macquarie Bank. All of the purchases and sales have occurred from 10th Oct 2017 right up to 9th February.
Am I reading this correctly? The "On Market Purchases" are where Macquarie Bank has purchased TGR shares. The "On Market Sales" are where Macquarie has sold TGR shares.
But the net result is that Macquarie Bank is now a substantial holder in TGR? Is that correct?
And does anyone know what "Borrow Delivery" and "Borrow Return" transactions are? Are these examples of Macquarie shorting TGR stock?
Any light shed on these documents would be greatly appreciated.
Cheers
PS: There are also a large number of transactions for less than 10 securities. Why would Macquarie purchase or sell less than 10 shares in a single transaction?
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"Borrow Delivery" and "Borrow Return" sounds like a short.
The tiny number of less than 10 shares is used to push the price up or down a little bit, often to to support a much larger transaction in the opposite direction.
MQG may well sell their holding in very short time span.