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HDIV - reason for volume

Closed-end funds and OEICs
Newroad
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HDIV - reason for volume

#268500

Postby Newroad » December 2nd, 2019, 11:59 am

Hi All,

On the 4th September this year, HDIV had an unusual day in terms of (high) volume. Two related questions

    Does anyone happen to know the reason why in this specific case, else if not
    Is there a resource which helps generically for this type of question?

It is more or less straight curiosity for me (though I am invested in it). As it happens, it precipitated the start of a downtrend which has recently reversed in a slightly more sharp manner.

Regards, Newroad

noh2
Posts: 1
Joined: December 10th, 2016, 9:20 pm

Re: HDIV - reason for volume

#268508

Postby noh2 » December 2nd, 2019, 12:28 pm

HDIV went ex dividend on 5th September.
The spike in trades was probably due that.

Next ex div date is 5th December look out for a spike in trade volume on the 4th.

Newroad
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Joined: November 23rd, 2019, 4:59 pm
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Re: HDIV - reason for volume

#268512

Postby Newroad » December 2nd, 2019, 12:36 pm

Cheers, Noh2.

A good hypothesis and an easy one to check!

Regards, Newroad

DavidM13
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Re: HDIV - reason for volume

#268541

Postby DavidM13 » December 2nd, 2019, 3:32 pm

I am not totally convinced because the March and June dividends seemed to have no affect on the volume traded. It may be the answer but there is no recent trend that I can see

monabri
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Re: HDIV - reason for volume

#268570

Postby monabri » December 2nd, 2019, 5:13 pm

Possibly related to the RNS following the AGM..?

3rd September 2019

https://www.londonstockexchange.com/exc ... 12406.html

Newroad
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Re: HDIV - reason for volume

#268750

Postby Newroad » December 3rd, 2019, 11:07 am

Also a good hypothesis, Monabri.

But I had a look - nothing too controversial - did you think differently?

Regards, Newroad

GSVsowhat
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Re: HDIV - reason for volume

#269337

Postby GSVsowhat » December 5th, 2019, 4:49 pm

I have looked at the holders of HDIV, and between end Aug and End Oct Brewin Dolphin sold down 2.7m of their aggregated holdings (now 7.9%) so that looks to be the who - just no clearer why

Newroad
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Re: HDIV - reason for volume

#269505

Postby Newroad » December 6th, 2019, 10:27 am

Cheers, GSVsowhat.

That is definitive (and the number I saw would be consistent with a 2.5M or so block on that day). Quite a bit to move on the open market, if indeed that's what happened.

Regards, Newroad


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