Member Info for Gotrader

Wellington Management International Ltd increased one of their shorts by 0.07% on 19th. They had been reducing overall. Case of pump and dump? I think there is an element of profit taking here too. 11-12m volumes is quite high for this share. Shorters or funds involved?

I still think 80p could be breached again here. Markets in general are so fragile at present.

as at 28 September 2018
Quoted: AIM (London Stock Exchange) Other exchanges / Platforms: None Issued cap: 757,618,434

Significant Shareholders:
T Rowe Price Associates 106,863,858 [13.96%]
OppenheimerFunds 70,000,000 [9.15%]
Hargreaves Lansdown Asset Mgt 55,171,569 [7.21%]
Schroder Investment Mgt 35,404,873 [4.63%]
Interactive Investor 34,649,315 [4.53%]
Barclays Wealth 32,228,610 [4.21%]
Dr Andrew W Nelson 29,459,218 [3.85%]
AXA Investment Mgrs 23,141,057 [3.02%]

The big riser is T Rowe Price with 36M more share than last May. Axa back above 3%. Barclays/Interactive Investor both up by about 500k shares. Seems the FT got Hargreaves wrong as their shares have gone up by 5m. No Hales Hargreaves in there yet.

Every single major investor here appears to have increased their holdings. Apart from Oppenheimersfunds. Unclear how they work out T Rowe Price as they have many loaned out shares.

Overall this share seems to be on the rise. Looks like the main holders seem to be all increasing their holdings. That or moping up sold shares.

ODEY ASSET MANAGEMENT LLP has reduced by 0.39% on 12th October. Does explain jump in SP. Shorts now at 9.5%. (Those declared above 0.5%) Fingers crossed this is a sign the shorts are starting to close. Of course they always wait for shares to peak and then start again.

Really good news about CFO. We knew it would likely be annonced soon. Someone from ARM will have a good knowledge of this industry. 2-3 months wait is a bit frustrating.

I wonder how much he will be costing IQE? Guessing it won't be cheap. 200-300K+?

Nice spike in SP today. Lets hope we can hold this. From a low of 72p back to 85p. I wonder if some people already knew about this hire before announced?

Further update from T Rowe Price. They have loaned out 0.4% of shares again.

T Rowe Price have taken back 0.37% of shares and bought about 0.13% more. Helps explain rise yesterday. Shorts help to bail at 72p yesterday.

Coltrane increased their short by 0.12%. Clearly not worried. Good recovery today. I think some shorts must have closed today.

On positive news shorts declare above 0.5% now at 9.62%. Wellington reduced by 0.22%. So maybe shorts are starting to close here as this share reaches it's floor value. 70p still seems possible here. So many shorters sitting on profits they might want to bank.

In terms of the numbers.
Milton fell out of major shareholders a while back. (No need to report)
Axa if 1% is correct IQE have not informed us. (IQE seem to update their website once every 5-6 months. ) Looking at numbers I suspect AXA uses a number of funds here. They are shown as buying shares 0.61m on 31/08/2018
Herald is no longer listed on IQE site.

It's possible Hales Hargreave could be above 3% if they include Marlborough. Again they use several funds.
Fidelity were never shown as above 3% either. They apparently sold Aug 31st this year. There was high volumes at that time.
Barclays possibly took profits at the shares peak. Unsure what holdings they have now. Assume they still have 4% here.
HL - Given the market's general decline I would not be suprised if many sold out at the peak. As this is just small investors.

It's not an exact science and I am trusting third party websites. The key point here is not all funds here have been supporting IQE. My belief is many have taken profits or reduced. Some have been buying small amount.

At these prices I would be expecting more funds to buy back in. You have to wait for a big sell to buy large volumes.

So where did all the shares go? IQE issued over 67.9 million shares at 140p. Presently the funds that took these are sitting on close to a 50% loss. We never really found out who took these. My guess is T Rowe Price took quite a few..

Hargreave Lansdown - From 7.1% to 4.68% 14-17m shares sold.
Barclays 5.4% to 4.21% 8-9m shares sold..
Herald 3.6-2% or less. 16m+ shares sold.
Fidelity 15-18m shares sold. (Site shows a UK fund of theirs bought 3m or so shares.)
Axa - 3.3%-1% 14-15M shares sold.
Milton 3%-1% 14M shares sold.

Major buyers are
T Rowe Price. - +42M shares.
OppenheimerFunds, Inc.+20m.
Schroder + 7m. (They sold and bought back shares.)

Overall if we go by Morning Stars figures. the top invested funds here have sold at least 80m shares. Hales Hargreave is harder to work out as they might include Marlborough in their figures. I have not included a raft of smaller share holders. Also not sure about T D Direct. My figures could also be off if the major shareholders list their shares across different funds they control.

Some of the sells would date back to Sep 2017.

Whilst I am sure shorters have not helped here I see a raft of major shareholders taking profit here. With 2-3 other funds supporting the share. It's the shorts below 0.5% that we can't see that could be buying and selling to influence the shares. In amongst these are multiple funds trading huge volumes.

Not really sure how much faith to put in the Motley Fool.

'However, I think I made an error in my enthusiasm, because I put aside one of my faithful criteria for guarding against unduly risky investments. IQE is among the most heavily shorted stocks on the London market. Now, hedge funds may short stocks for a variety of reasons, but when, as in IQE’s case, those reasons include doubts about things as fundamental as a company’s technology leadership and its accounting practices, it’s a steer-clear stock for me. As such, purely on this basis, I’ve added IQE to my ‘avoid’ list.'

If IQE has over played how well it's really doing then you might expect the SP to fall further. If they meet targets and maintain a lead over competitors on technology then maybe the fall in SP here is over done. I think it is down to IQE to show that this is not all hype and they can give huge growth rates with profits to match.

Shorters don't always get it right. For me I would hold off investing here till it's clear shorts are closing and the SP has reached it's floor. It's worrying on a Level 2 front that even at these prices sellers out number buyers.

This was their previous article that warned about IQE.
https://www.fool.co.uk/investing/2018/09/10/this-dynamic-small-cap-is-thrashing-the-iqe-share-price/

In both articles they are trying to suggest another shares is performing better. The next news from IQE needs to be positive to stop this decline. Could this go below 70p? If it does I think that is an indications that some funds are still selling.

No change in shorts above 0.5% since September.

Looking at previous holdings and other data online they have sold at least 6-15 million shares. They likely have half their holding left. Which would account for the asset value being just over half from Dec 2017 figure. This would of been 5+ months ago. I think other funds are still buying in here. The point is funds are actively buying and selling this share on a daily basis. I don't think were at an inflexion point yet where shorts will buy back the shares. Could be the largest shorter (Coltrane) is letting Marshall Wace clear first. I think both are sitting on a big profit anyway. See what next week brings.

Herald Investment Trust 2017 report makes interesting reading. They go on about how IQE is one of their best performing shares. up 261%. IQE were 2.7% of their asset in Dec 17. That is now down to 1.5%. This could be due to the falling SP. That or they reduced some time in 2018. In their H1 report they talk about selling £65.6m of UK shares. So this likely included IQE.

I think this is one of the reasons the SP has fallen here. Many funds have made huge profits on this share and are now taking profits. With Brexit other funds may choose to do this too. Schroder chose to come back in at a lower price.

Many funds buying and selling in IQE here. We only ever notice those above 3%.

My knowledge of types of trades is something I could improve on.

In terms of trading updates you got one 4-5 weeks back with the results.. No company no matter how big will release a trading statement each month. Generally you only release them where performance is above or below market expectations. I think next one will be to state production has started in the new factory or a new CFO.

Well this is positive news. Schroder fell from 6% to around 3.74% earlier this year. (Jan). It shows now they are happy to buy back at 80p or so. Not sure when they crossed the 4% mark. They have increased by about 10M shares here. They may have been the company mopping up the sold stock here.

I think Hargreaves Lansdown will still have a holding here as it is individuals holding stock. So I likely got that wrong. Their holding fallen but it was not a sellout.

One seller which another site suggests is Fidelity who have reduced by 13 million shares. Albeit not sure when. So i think funds are responsible on the days when volumes ramp up hugely.

The breakout appears more likely to be a move below 80p. Large 396941 sell went through after market closed. Still much risk here but at least some funds are supporting the SP. I think there has to be a point where shorters ditch their positions.

Cannacord at £1.90.
Peel Hunt £1.54.
Deutsche value IQE at £1. (Down from £1.10,

Wonder why Deutsche value IQE so far below the other brokers? 54-90p is a huge difference in valuation

@ Tilly - Those US jobs may be current vacancies. All firms hire to replace staff that leave.
The UK jobs I would agree appear to be in preparation for the new facilities to go online. Notice the plural on some of the roles. Some of the job roles are open to end of October. Others were closed off in June.

They did suggest the site would be active by end of the year.

Pie in the sky really in terms of £1.90.
I thought Peel Hunt at £1.54 was slightly more sensible.
It would not look good for share if they started halving their valuations. Probably why they are all keeping them so high given the current SP. No doubt they would be talking to IQE about these.

New short position has appeared. ODEY ASSET MANAGEMENT LLP 0.5%. One leaves and another appears. 10.62% short positions that we can see.

Waiting on real news here. So far holding above 80p for now. GLA

Oh that Global Newswire used the 760m shares and not the 765m shares.

RNS to stats total voting rights now.

No update on their main website yet for major shareholders.

In 2013 HL held nearly 6.5% of shares. So even at 80-90p they would be sitting on a large profit.

I would imagine like any other company their funds buy and sell shares. So sell some in June. Wait for results and then sell again in September if they were below expectation.

There are quite a few big funds below 3%. Axa, Milton, Hales Hargreaves. Any of them could of sold up. Shroder too have been reducing over the last year. Probably explain why this share has drifted from 180 to 80-90p. Betting the shorters knew a lot of funds may have wanted to reduce.

Chart reading we have now had 3 dips with small rises. Each small rise followed by a larger dip. So still some risk here. Pending if anyone else is selling up? Not seen a new short position in a few weeks now.

Hargreaves Lansdown Stockbrokers Ltd. Are they selling up here?

This is an interesting one. On 04/06/2018 FT has their stake as 4.68%. So does another site I regularly look at for shareholdings. I do this as some Aim shares don't always update their holdings.

IQE site suggests they held 6.7% on 28th May 2018. (About 50 million shares.) So in theory they could have 35 million shares left since 4th June if they held 4.68% at start of June. There was large volumes on days before this of 9-10 million a day. (31st May and Jun 1st.).

We are seeing similar patterns now with dips in the share as the big holder reduce holdings. When you get volumes of 10m+ a day it suggests funds must be involved.

All the 3 big dips lately in September have all had a day where 10-13m so shares have been traded in a day. My gut is this is Hargreaves Lansdown clearing out fully. I expect them to be nearly done.

Question is will we get an IQE Major shareholding update tomorrow. End of month and 4 months since last update. I don't believe T Rowe Price is buying up these sold shares. Maybe one reason we have not had an update is 1-2 funds are still active.

Not sure if other funds are updating holdings here. I think the above suggests it's not shorters alone influencing price. Someone selling 1% of a company will force the SP lower.

If this reduction was down to a fund clearing out then I would expect it to rebound next week. Marshall wace reduced again by 0.1% on 25/09/2018. So they are getting close to 1% here. Could soon be off the shorters page.

This could be a pause if this current seller is not done yet. We have seen huge volumes last few days/weeks.