Someone's bidding for a lot of shares at $3 3/8 this morning and there's a seller hitting the bid. So far, 42,800 shares have traded, all at $3 3/8. The buyer is showing a bid for 20,000 more shares at $3 3/8.
Buyer is represented by B-Trade (Bank of NY's instinet arm) which also represents Bloomberg's institutional biz. This very well could be Gabelli looking to build a halfway decent position in the stock.I know he has had a relationship over the years with Bank of NY but I cant be positive that the buyer is he.One thing is for sure---This is not the last you will see of a buyer of this size. I have been bidding for decent size at $3.31 for a long time but there is always interest just above me. RUDY