Considerably bigger volume in LNCO than LINE today and the spread is widening. BRY shareholders still selling or?
Huge block trade last Friday at 10:15:57, 495,900, somebody big got out, no way to know who bought, maybe the market maker? X that block trade and volume wasn't even up to average.
Since 100% of LNCO's assets are shares in LINE on a 1:1 basis, I just think of it as LNCO selling at a 3-4% discount to Net Asset Value.
No, I think that's a reasonable explanation, taking advantage of the uptick to dump, not much else to explain it. I suppose we'll see at the quarter end when the fund ownership stats come out, how much residual is left.
Sister LINE is lapping us. Never have understood this situation but happy to be at least headed in the right right direction even though not as steep a pace as LINE.
Swapped all my LINE with LNCO. No brainer's decision.