Michael and Anthony, my source is Zacks for the insider and institution ownerships. It seems to me that at any given time, different services report different numbers. Obviously, someone is wrong and it is possible that no one is right. In my opinion, Zacks is just as reliable or unreliable as most services because of the time delays in filing requirements dictated by the SEC. Classic example is MU with Fidelity Magellan. By the time the public realize Vinik was selling while touting MU, the damage is already done. I did not remember any service reporting institution ownership going down in a timely manner.
To Anthony, I am not concerned about insider manipulating. SOES bandits, short term traders are more my concern.
Michael, it is very easy to have "negative" float. Just add the short interest to the actual number of shares. These thinly traded stocks can be so volatile, because of the lack of volume available for the masses. IOM is a great example. When it was IOMG during the pre-pre-split era, it swings wildly. After the splits and moving to the big board, it is now as tame as a utility stock. Last time I looked (so this info may not be current), I think total institution/insider ownership for IOM is about 30%, leaving 70-80 million shares in Joe Public's hands. IOM will not swing like last year anymore, too bad no one told the hundred of dreamers, both long and short, on the IOM threads who are still looking for the daily 5+ point moves.
Finally, I am no expert on these matters, may be Mr. Neal could help us out on the TA side.
Ramsey |
