Sold 20 mil shares overall from 06/08 to 09/08. State Street Corp sold all 11 mil in the 3 month period. Some smaller, spec hedge funds probably took over the 20 mil. However, they do not have the stomach to sustain the rapid fall and forced to sell in recent days, creating the huge swings.
Remember that the bulk of the price decrease started from Oct 1 after the 09/30 report date.
Gradually, money will flow in and stabilize the sector.
1. NAME OF REPORTING PERSON S.S. OR I.R.S. IDENTIFICATION NO. OF PERSON STATE STREET BANK AND TRUST COMPANY, ACTING IN VARIOUS FIDUCIARY CAPACITIES. 04-1867445
2. CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP.*
NOT APPLICABLE A __ B __ 3. SEC USE ONLY
4. CITIZENSHIP OR PLACE OF ORGANIZATION
5. SOLE VOTING POWER 13,415,822 SHARES 6. SHARED VOTING POWER 0 SHARES 7. SOLE DISPOSITIVE POWER 0 SHARES 8. SHARED DISPOSITIVE POWER 13,415,822 SHARES 9. AGGREGATED AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON 13,415,822 SHARES 10. CHECK BOX IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES* NOT APPLICABLE 11. PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW 9 5.1% 12. TYPE OF REPORTING PERSON* BK