Greetings to the community.
I am a newbie in stock exchange rituals and i have spotted a regular high volume transaction at market close in a stock that i have in my watchlist. I find both the volume and the bidding price kind of irregular.
- Who could be the buyer that makes this kind of transaction ? Fund ? An institution ?
- Why is he buying at a higher price than he could be buying ? Trying to set next days opening price ? Is this some kind of a technique ?
I have searched investopedia towards the directions Bob pointed out and i think that these mysterious (not so more) transactions must take place at the closing auction. Is this correct? Bloomberg also indicates this as a wordwide trend
Other than the Market-On-Close (MOC) transaction, could the following types of transactions be more fitting ? Limit-On-Close (LOC), Imbalance Only (IO), Closing Offset.
I have also found transactions (of another day) showing a detailed view of a mysterious transaction. What could be the instr phase feed codes ? Does C,P,A codes ring any bells?
As i point out in the picture below, the sum of the transactions after the market close sums up to the number i see on the graph. Any explanatins on the ask and bid prices? If you want to see today's transactions you can visit this.