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The Walt Disney Company Message Board

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  • fimtinnegan fimtinnegan Jun 27, 2008 7:05 PM Flag

    huge sell blocks of Dis at very end of trading today!

    There's a simple explanation for this (the same thing happened to lots of stocks): The Russell indexes were rebalanced today. Those indexes are market-cap-weighted, and are rebalanced only once a year. Any stock whose market cap is less today than it was one year ago today was sold in huge quantities during the last half-hour of trading, because the majority of equity-based mutual funds are legally obligated (due to their self-definition) to base their weightings upon the indexes. Thus, many mutual funds had no choice but to sell a proportion of all stocks that have lower market caps than they did a year ago.

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86.04-0.17(-0.20%)Jul 23 4:00 PMEDT

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