Flick, I was looking at the Institutional ownership per Vickers.
Top Institutional Holders
Rank Institutional Name Report Date Position
1 AXA FINANCIAL, INC. 09/30/99 7,584,750
2 FMR CORPORATION (FIDELITY MANAGEMENT & RESEARCH CORP) 09/30/99 3,673,402
3 MELLON BANK, N.A. 09/30/99 2,842,297
4 BERNSTEIN (SANFORD C) & COMPANY INC 09/30/99 1,868,637
5 CAPITAL RESEARCH AND MANAGEMENT COMPANY 09/30/99 1,700,000
6 FUND ASSET MANAGEMENT INC 09/30/99 1,669,300
7 PRICE (T.ROWE) ASSOCIATES 09/30/99 1,409,600
8 BANK OF AMERICA CORPORATION 09/30/99 1,304,240
9 STRONG CAPITAL MANAGEMENT, INC. 09/30/99 1,175,000
10 ARK ASSET MANAGEMENT COMPANY, INC. 09/30/99 1,158,900
I don't see any of the top ten holding since 6/30/1999. Most fund bought between 6/30/99 and Sept 30, and may have not been long term holders. If they bought in August, they are sitting on a loss so tax loss selling makes sense. Fund managers sometimes find it tough to start the new year with stocks that have loss 20% in 1999. Better to sell it now and buy in 2000. Probably see some more block sell through now to the end of the year. Looking for IM to hold to $11 and rebound the first week of January.
Jack |
