Agreed … I had assumed that DRO was just getting included into an Index. But I’ll take any bump to the share price.

However, according to the AI it was added to All Ordinaries in March 2024 and ASX300 in September 2024. But when I looked at the latest constituents it’s still in the All Ordinaries but has dropped out of the ASX300 (although it’s still in the VAS ETF about 13.3m of the total ~47m held according to the announcement).

Most of the transactions in the declaration are in the September timeframe (at much higher prices) which would have been them having to balance into the Index. However, of interest there were a big chunk on 20 December which might mean that it was added to one or more of their other ETF/Managed Fund products (they bought those at 63c).

I think punters like “institutional investors” being in the stock which might explain the share price bump. However, I personally wouldn’t really consider Vanguard institutional given my impression of them are that they are predominantly index trackers. Would be interested in the view of others.

DISC: Held IRL and SM (and licking my wounds over all the paper losses this year)