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Technology Stocks : Axcelis Technologies, Inc. (ACLS)
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To: Lance Bredvold who wrote (85)1/3/2001 8:56:35 AM
From: WTSherman  Read Replies (1) of 195
 
I'm a little confused about the ETN ownership total. One news report said that they had 80M shares, however, reuters item said its 68M. In either case, of the "insider" ownership somewhere between 80-90% was ETN. I think that the selling to worry about from the ETN distribution is from mutual funds. If I recall correctly, about 68% of ETN stock is held by funds, most of them I would presume are G&I large cap funds. ACLS doesn't exactly fit the profile of a stock that a G&I fund should/could/would hold. They are going to have to either make an internal sale to another family fund that can hold this stock or sell it on the market.
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