Formerly About Advanced Micro Devices Message Board

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Politics : Formerly About Advanced Micro Devices

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To: Alighieri who wrote (113451)	5/30/2000 9:45:00 PM
From: tejek	Read Replies (1) of 1573221

According to Fidelity Research: Percent of Institutional Shares Owned - 71.4% Institutional Holders - 513 Total Shares Held - 109.3 Million Three Month Net Purchases - 24.9 Million Three Month Shares Purchased - 45.1 Million Three Month Shares Sold - 20.1 Million Al, This same discussion came up about a month ago and this is where things got confused. Yahoo is saying that institutions own 98% of the daily float and not the outstanding shares. The daily float is the outstanding shares minus the shares held by insiders who can't trade on a daily basis. Outstanding shares are not to be confused with the number of shares authorized. Soooooo before the recent proxy vote we had the following scenario: Shares authorized = 250 million Outstanding shares =152 million (with another 22 million tied up in employee options) Daily float equals 152 million minus shares actually held by insiders (27% X 152 million =s 41 mil); so the daily float looks to be about 111 million. Assuming 108 million shares are tied up with institutions, 108 million divided by 111 million (daily float)is 98%. A 108 million divided by outstanding shares (152 million) is 71%. Of course these are approximate numbers and I am using them only to explain the difference in percentage calculations. The more significant percentage is the 98%.....that assumes that all 27% or 41 million shares only can be traded a few times a year as insider trades. But I suspect that is only true for less than 1% of 41 million....those are the true insider shares; I would not be surprised if the 99% remainder of the 41 million are not subject to the same restrictions. I will know that for sure when I check the SEC filings to see who are those "other" insiders. I just reread this...I hope its not too confusing. ted Shares Al

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