I am certainly no expert but my guess is the buyer wants to get in on the dividend and the seller wants to avoid the jobs report drop. Obviously they are very large fund managers. Another guess is that the drop off ex-dividend on Thursday will be large on high volume. I am buying puts today.
Now Wilky, everybody in the investment business knows about the impending dividend payout, jobs report (leaked), ex-dividend, etc. The question is WHY a fund manager, as you suggest, would dump such a huge number of shares with good news abounding for T? You have noticed the increased value recently, havent you? Doesn't track Wilky.
By the same token, how wise is your presumable fund manager a buyer at $38.00 of 48M shares? Either things are looking terrific, or something bad is about to happen. Maybe your recently updated $66.00 daily profit will skyrocket, or will it go even lower? Worse case, you may have to re-write your 340K loss to a higher amount next year. Wouldn't want that to happen.
this action recalls my first-ever trade (1960) after reading a book by Nicholas Darvas, whose philosophy was to look for "...a good advance on strong volume, with favourable fundamental company research...This method also showed Darvas insights into a stock's price behaviour, often revealing the signs of ‘inside buying’ before a company's release of favourable news to the public..."...so the lack of news, high volume and steady price increase would mean (according to Darvas) that insiders are buying on anticipation of something special
Nice take. By "insiders", who do you mean? Most insiders don't have the kind of dough it takes to buy nearly 48 million shares that are on the T board. I doubt they could collectively ante up anywhere near the cost.
The A.H. Volume was negligible. Then, I saw it jump from less than 100,000 shares to 45M+. That suggests a hell of a purchase. I know there is a buy back going on, but this action seems way beyond that sort of thing.
Daria's makes sense from what you say, but I have NEVER seen this kind of a transaction in all the 32 years I have owned and followed T. It will be interesting to see tomorrows open.
45M shares @37.90=1,705,500,000. That was the value.
Thanx for the response.
32 years I have owned and followed T. It will be interesting to see tomorrows open.