Sprott Sells 565,000 PSLV In Last 7 Trading Days

By now you know the story. (If you don’t know the story, you should know the story – read the links, and ask questions if you have them)

The latest 13-D shows Sprott selling 565,000 shares of PSLV from 8/1/11 thru 8/5/11

Date of
Transaction
Number of Units
Purchased/(Sold)
Price per Unit
8-1-11
(71,000)
$18.3995
8-2-11
(75,200)
$18.7793
8-3-11
(258,000)
$19.4621
8-3-11
(53,800)
$19.2390
8-4-11
(42,000)
$19.7164
8-4-11
(64,000)
 $18.5817
8-5-11
(1,000)
$17.6100

 

Sprott only sold 1k shares on 8/5/11, which was the start of 3 days of big underperformance for PSLV vs its Net Asset Value.  It looks like Mr. Sprott had to cancel his sell order for that day, after getting only 1,000 shares off,  and wait until the “investors” bid PSLV back up to sizable premiums (which they did, in short order – on Wednesday, 8/10/11).

If you have no idea what this post is about, do your background reading:

1) filing to sell shares  2) selling shares  3) selling more shares. 4) selling still more shares  5) selling even more shares 6) Misinterpreting PSLV’s premium to NAV.

-KD

disclosure: I have NO POSITIONS in $PSLV or $SLV.

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