What is the point?

[Jantar]

I notice that today there have been numerous consecutive sales of ARV at $1.32, but the quanities each time are all between 15 and 20 shares. This low quantity for each trade means that it does not show on the NZX as the last sale price as the quantity is too small, yet the combined quantity of OL trades would make it sufficiently large to set the last sale price at $1.32.

But why would anyone be offering, or bidding for such small quantities? The brokerage would be more than the cost of the shares.

[stoploss]

I notice that today there have been numerous consecutive sales of ARV at $1.32, but the quanities each time are all between 15 and 20 shares. This low quantity for each trade means that it does not show on the NZX as the last sale price as the quantity is too small, yet the combined quantity of OL trades would make it sufficiently large to set the last sale price at $1.32.

But why would anyone be offering, or bidding for such small quantities? The brokerage would be more than the cost of the shares.

A fund manager or professional investor with a sizeable parcel can say load one order to sell 100,000 shares ( pay one lot of brokerage) and the system they use will split it into small parcels to hide the selling i.e.: so as not to look like a large seller .....also sell across the day to maybe get a better average .... maybe google Iceberg orders ... cheers S/L

[Jantar]

A fund manager or professional investor with a sizeable parcel can say load one order to sell 100,000 shares ( pay one lot of brokerage) and the system they use will split it into small parcels to hide the selling i.e.: so as not to look like a large seller .....also sell across the day to maybe get a better average .... maybe google Iceberg orders ... cheers S/L

Thanks for that. In this case it must be the buyer rather than the seller as I noticed that the quantity for sale at that price dropped by the exact amount of the last trade: 18 shares.