With QEC going into the TSX Composite Index as of Monday, the big investment houses have been accumulating shares of QEC over the past 2 -3 weeks. They then made transfers to their Index Funds and ETF's after the close on Friday so that these funds will reflect the make-up of the new Comp Index.
Some wait til the last minute and this is why we saw some wild trading in the last half hour on Friday. Monday's first half hour might see some strange trading too but after that it's back to normal.
The really good news here is that these shares for the most part will not be traded again but just sit in their funds, making the outstanding float smaller.
Also, QEC will now be able to be purchased by a much wider number of funds, including some hedge funds, who can only invest in shares of companies that are in the TSX Comp. Overall, look for our trading volumes to increase - and the SP may fluctuate more on good days and on bad days.
In the end, this is another huge step for QEC, and it shows that the TSX has confidence in us.
Now all we need to see are some good drilling results................................
