Near-indiscriminate dumping of TransactionCapital (TCP) shares continued on Wednesday, with another 21 million traded. MoneywebNews
Near-indiscriminate dumping of Transaction Capital shares continued on Wednesday, with another 21 million traded. Since the group’s shock trading update after the market closed on Monday, a total of 48 million shares has changed hands. This is over 1 000% more than the average volume traded in Transaction Capital shares across two days over the last 52 weeks.
While its holding in Transaction Capital is not massive in the Balanced Fund, at the end of December it equated to 1.14%. This is modest but is still one of the fund’s 12 largest domestic equity holdings . The fund has assets under management totalling approximately R60 billion. At the end of December, this was a position valued at R1.1 billion. Had it retained this stake , it would be worth little more than R500 million at the market close yesterday – less than half of what it was in December.
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