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To: fut_trade who wrote (3626)12/5/1997 8:38:00 AM
From: santhosh mohan  Respond to of 27307
 
My understanding of float is that it is the outstanding shares less the shares held by "insiders" (management and owners of at least 5% of the outstanding shares). Say an institution has 3% of the outstanding shares, it would be included in the float. These can be sold without filing a Form 144s.