Re: Weird information - Karen's reply
in response to
by
posted on
Nov 09, 2012 02:29PM
Would elimination of odd-lot shares also not get rid of/reduce the end of trading day SP supression antics of Latimer; Jitney et al ?
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Peter,
Unfortunately anyone can sell any number of shares that they want. As retail customers we may get tagged with an odd-lot fee in addition to brokerage fees whereas the trading houses don’t. If the funds and trading houses have an agenda that can be advanced by buying and selling 10 shares here and 50 share there they certainly can.
As an aside I noticed last night that one of my accounts had 85,850 Prb shares in it. I probably picked up the 50 share odd lot as a partial fill on an order. I suspect I'm not the only investor out there with an odd lot that doesn't fit the sub-100 shareholding profile of what they were targeting.
.. Rob