Susan,
I have heard from a reader that suggested similar thoughts.
GNET was not just the last of the 20 permanent members
to be included in the fund, it was the one with the smallest dollar value in
the fund. But, because this is an open ended fund, even if the fund requires
the $ value ratio to remain the same
(something I am not certain is required), as the total $ value of the fund
increases by infusion of new money (as well as by increase in $ value of
individual shares), the number of shares of each of the 20 participants also
must increase in order to retain the (required )? $ value ratio. I do not
know whether this has happened, but it would seem like a logical occurrence
in a successful open ended fund. In addition I do not recall who the other
19 companies are, but I would assume that AOL and Yahoo are included and they
have risen considerably in value since the fund was established. I do not
recall just when the fund was first funded, but I seem to recall that AOL was
somewhere below $90 about that time and it is $150 now. But, as I suggested,
I was simply speculating that the ML purchase may have been for the fund, as
a possible reason for the trading activity by ML, if indeed it was ML. |
