PEN has an average daily volume of far less than USD200,000 and...

PEN has an average daily volume of far less than USD200,000 and under the new index the maximum allowed weight of a company with 3 months average daily volume of https://www.solactive.com/wp-conten...Technology-Total-Return-Index-Methodology.pdf

So unless the fund was going to hold stocks contrary to the index guidelines it needs to reduce its holdings from the current 1.7% weighting to a maximum of 0.5%. This change in composition needs to take place by 31 July - or about 160,000 less shares a day. That rate of selling was taking place until over the past few days when GX instead started buying.