Campbell, John; Ramadorai, Tarun; Vuolteenaho, Tuomo - EconWPA - 2004
changes in reported institutional ownership on quarterly buy and sell volume in different trade size categories. We find that … ownership. Institutions also tend to trade in large or very small sizes, in that buy (sell) volume at these sizes predicts … increasing (decreasing) institutional ownership, while the pattern reverses at intermediate trade sizes that are favored by …