End of Day 9 million share blocks?

S

stashu

I wonder if someone could help me with something.

I happen to be involved in a pink sheet stock that trades an average of 200 to 300 million shares a day.

At the end of every day there are always a large number of 9,000,000 share trades going thru.

This happens every day like clockwork.

Does anyone know what this could be?
Are these shares being transferred among market makers? Are these actual trades? Some sort of hanky panky?

Anyone?
 
Big buyer gives MM an order to buy more shares than can typically be bought in a single day without unreasonable market impact. MM buys the stock for his account over several days until the order is completely filled. At the end of each day, he prints a "cleanup trade", selling the shares purchased that day to the customer for the average price paid, possibly plus a markup.
 
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