Q: Volume is very high at 3.2M late afternoon. Who is buying? Are funds stepping in? Is there a way of finding out this information? The stock movement has been striking these past couple of weeks.
5i Research Answer:
Funds release holdings every six months, publicly. Some will list top 10 holdings on their websites. But disclosure on Canadian companies is not required until a holder owns 10% or more of a company. Being a small cap stock, we highly doubt any holders will voluntarily tell people they are buying. The average trade size today is only 416 shares, which 'implies' it is still retail-trading-driven. There have been quite a few trades of 10,000 shares of more but none so far of 100,000 or more.