Short sellers do brisk trade in Tracker Fund

The Tracker Fund saw another 271 million units taken up yesterday, bringing the tally for the last two days to 342 million units out of the original 720 million units on offer this quarter.

One institutional investor alone took up 130 million units, according to Quamnet News.

Many of the units were going to investors who have been shorting the market on its descent from just below 12,000 points in mid-May to just under 10,400 points. The Tracker Fund's pricing system can allow for blue chips to be cheaper than their quoted prices in the cash market.

'Short selling in the market was very heavy,' an analyst said.