The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!
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| Author       | Source       | 
| :-------------: |:-------------:|
|  [u/diamondhandsbaby0](https://www.reddit.com/user/diamondhandsbaby0/) | [Reddit](https://www.reddit.com/r/Wallstreetbetsnew/comments/lhiwhh/the_etfs_have_the_biggest_diamond_hands_and_went/) | 

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[DD](https://www.reddit.com/r/Wallstreetbetsnew/search?q=flair_name%3A%22DD%22&restrict_sr=1)

I am not a financial adviser, this is not financial advice.

I have a theory:

The sudden increase in the share price, and therefore market cap, has triggered dozens of ETFs and Index Funds to automatically buy shares in GameStop at the market price. In the process, they have discovered they have diamond hands.

These funds are tracking the market, so once a company reaches a certain size, they must include them as part of the fund (as long as fits the other criteria as well). GameStop all of a sudden crossed that threshold.

I think the funds hold shares closely. They could be "locked up" for a certain time and therefore an argument could be made they no longer count towards the float. This is because the public will not be able to buy them for an extended period. The float only counts shares that can be publicly traded on the stock market.

You could say that the ETFs have Diamond Hands. They hold them so closely they're no longer on the float!

Background: the float has been reported to be 50 million shares widely for a while. Recently, there has been an exception for MorningStar, which puts the float at ~27 million. I also believe this is the number that FINRA has based its short interest % on, because it works out exactly. ([see my post on that](https://www.reddit.com/r/Wallstreetbetsnew/comments/lhdylm/gamestop_short_interest_and_floats/))

These are the numbers from MorningStar, note the size of the Float.

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/que46dcz8ug61.png?width=479&format=png&auto=webp&s=88d0b013d6e46a5b6a32796427300aedc75e1655)](https://preview.redd.it/que46dcz8ug61.png?width=479&format=png&auto=webp&s=88d0b013d6e46a5b6a32796427300aedc75e1655)

Source: https://www.morningstar.com/stocks/xnys/gme/quote

Here is some evidence to back up this theory:

Table of Shares that are "closely held", compiled from public records.

Note the filing dates in bold. You will notice a lot of new buys around the very end of January, precisely when the share priced rocketed and market cap was very high.

"Diamond Hands"

| Owner | Shares | Type | Filing Date | Source |
| --- | --- | --- | --- | --- |
| RC Ventures | 9,001,000 | Ryan Cohen | 1/10/21 | Gamestop IR |
| Fidelity Intrinsic Opportunities Fd | 6,801,757 | Fund | 10/31/2020 | [Finra](http://finra-markets.morningstar.com/MarketData/EquityOptions/detail.jsp?query=14%3A0P000002CH&sdkVersion=2.58.0) |
| iShares Core S&P Small-Cap ETF | 3,621,031 | ETF | 1/28/2021 | Finra |
| Fidelity Low-Priced Stock Fund | 2,000,679 | Fund | 10/31/2020 | Finra |
| Vanguard Total Stock Market Index Fund | 1,468,071 | Index Fund | 12/31/2020 | Finra |
| iShares Russell 2000 ETF | 1,361,091 | ETF | 1/28/2021 | Finra |
| DFA US Small Cap Value Portfolio | 1,121,503 | Fund | 11/30/2020 | Finra |
| Vanguard Extended Market Index Fund | 817,863 | Index Fund | 12/31/2020 | Finra |
| Vanguard Strategic Equity Fund | 703,551 | Fund | 09/30/2020 | Finra |
| Vanguard Small Cap Index | 634,259 | Index Fund | 12/31/2020 | Finra |
| iShares Russell 2000 Value ETF | 595,041 | ETF | 1/28/2021 | Finra |
| DFA US Targeted Value Portfolio | 559,288 | Fund | 12/31/2020 | Finra |
| Vanguard Tax Managed Small Cap Fund | 519,077 | Fund | 12/31/2020 | Finra |
| iShares S&P Small-Cap 600 Value ETF | 456,921 | ETF | 1/29/2021 | Finra |
| DFA US Small Cap Portfolio | 452,337 | Fund | 12/31/2020 | Finra |
| Schwab Fundamental US Large Company ETF | 432,351 | ETF | 1/29/2021 | Finra |
| Schwab Fundamental US Large Com Idx Fd | 417,240 | Index Fund | 12/31/2020 | Finra |
| Invesco FTSE RAFI US 1000 ETF | 384,841 | ETF | 1/31/2021 | Finra |
| Fidelity® Small Cap Index Fund | 373,056 | Index Fund | 10/31/2020 | Finra |
| Vanguard Small Cap Value Index Fund | 360,565 | Index Fund | 12/31/2020 | Finra |
| EQ/Morgan Stanley Small Cap Growth Port | 350,679 | Fund | 11/30/2020 | Finra |
| FERNANDEZ RAUL J | 29,289 | Director | 1/19/2021 | [Finviz](https://finviz.com/quote.ashx?t=GME) |
| VRABECK KATHY P | 79,537 | Director | 1/15/2021 | Finviz |
| Dunn Lizabeth | 57,258 | Director | 1/15/2021 | Finviz |
| Wolf Kurt James | 91,000 | Director | 1/14/2021 | Finviz |
| Sherman George E Jr | 1,127,762 | CEO | 4/17/2020 | Finviz |
| Bell James A | 242,596 | EVP & Chief Financial Officer | 4/17/2020 | Finviz |
| Koonin Steven R | 25,271 | Director | 4/15/2020 | Finviz |
| Total | ~34 million |  |  |  |

As you can see, the evidence very much supports this theory.

The rough numbers for our calculated Float, so far, based on numbers above:

Float = Shares Outstanding - "Restricted" Shares

Float = 70 million - 34 million

Float = 36 million so far, much lower than the 50 million float reported around town.

Only 9 million shares away from MorningStar's number of 27 million. I'm think I'm missing a lot of ETFS with smaller buys. NASDAQ have a comprehensive list, but that will take a bit of time as it is a lot of small transactions.

TLDR: The ETFs have the biggest diamond hands of any of us and went on a buying spree.

Let me know what you think.

Edit: Check the owner activity from Finra

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/anbpcwwievg61.png?width=638&format=png&auto=webp&s=5c5bc1cfc543ef5eb7cfcea77fd623e7cfc6493a)](https://preview.redd.it/anbpcwwievg61.png?width=638&format=png&auto=webp&s=5c5bc1cfc543ef5eb7cfcea77fd623e7cfc6493a)

Source: http://finra-markets.morningstar.com/MarketData/EquityOptions/detail.jsp?query=14%3A0P000002CH&sdkVersion=2.58.0 (2/11/2021)

Update 2:

Look which Funds and Institutions have been Buying!

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/9dy3aif1gvg61.png?width=678&format=png&auto=webp&s=226115f2d52e6b3a52bd626810b4d431d7ce1b87)](https://preview.redd.it/9dy3aif1gvg61.png?width=678&format=png&auto=webp&s=226115f2d52e6b3a52bd626810b4d431d7ce1b87)

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/9lvs77bxgvg61.png?width=633&format=png&auto=webp&s=ab2f16e293afd18e974655293e6ddc55207b9a15)](https://preview.redd.it/9lvs77bxgvg61.png?width=633&format=png&auto=webp&s=ab2f16e293afd18e974655293e6ddc55207b9a15)

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/3mpb1po2gvg61.png?width=603&format=png&auto=webp&s=82479db15f7cbbe56f64a46e87a1c69b3e25ea52)](https://preview.redd.it/3mpb1po2gvg61.png?width=603&format=png&auto=webp&s=82479db15f7cbbe56f64a46e87a1c69b3e25ea52)

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/0tbdq0xygvg61.png?width=594&format=png&auto=webp&s=f63084139f9e9f43b82c323821ee63c100e04b41)](https://preview.redd.it/0tbdq0xygvg61.png?width=594&format=png&auto=webp&s=f63084139f9e9f43b82c323821ee63c100e04b41)

They also list the ones selling!

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/tpb2tiqkivg61.png?width=643&format=png&auto=webp&s=f7efb32cb493ee491de413db88ff24ae8b331fcb)](https://preview.redd.it/tpb2tiqkivg61.png?width=643&format=png&auto=webp&s=f7efb32cb493ee491de413db88ff24ae8b331fcb)

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/5f5upr8dlvg61.png?width=620&format=png&auto=webp&s=a1de0b9ccb23735c232613cf7cd058761a3a56fd)](https://preview.redd.it/5f5upr8dlvg61.png?width=620&format=png&auto=webp&s=a1de0b9ccb23735c232613cf7cd058761a3a56fd)

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/uyrjp6anivg61.png?width=609&format=png&auto=webp&s=e01214466fc0f72223b79c63d7f4b363ded460d9)](https://preview.redd.it/uyrjp6anivg61.png?width=609&format=png&auto=webp&s=e01214466fc0f72223b79c63d7f4b363ded460d9)

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/8ju0y0foivg61.png?width=622&format=png&auto=webp&s=b8368b6cc7d07a2076513991077414e52c2cfd71)](https://preview.redd.it/8ju0y0foivg61.png?width=622&format=png&auto=webp&s=b8368b6cc7d07a2076513991077414e52c2cfd71)

Update 3: found something called "Concentrated holdings". Recent dates.

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/t8sujprpovg61.png?width=630&format=png&auto=webp&s=3bde5c603584b3e2515fe0055de8fa1474d1fabc)](https://preview.redd.it/t8sujprpovg61.png?width=630&format=png&auto=webp&s=3bde5c603584b3e2515fe0055de8fa1474d1fabc)

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/6875mlsqovg61.png?width=620&format=png&auto=webp&s=6911abb592c70927c6d6c5b6b253e4d009655924)](https://preview.redd.it/6875mlsqovg61.png?width=620&format=png&auto=webp&s=6911abb592c70927c6d6c5b6b253e4d009655924)

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/6627b67sovg61.png?width=615&format=png&auto=webp&s=542d3f15e81d2ba4cd7f5ac8bd07bfd4ec192e6c)](https://preview.redd.it/6627b67sovg61.png?width=615&format=png&auto=webp&s=542d3f15e81d2ba4cd7f5ac8bd07bfd4ec192e6c)

[![r/Wallstreetbetsnew - The ETFs have the biggest Diamond Hands and went on a Buying Spree. GME Float is only 27 million shares!](https://preview.redd.it/m0gp1hqtovg61.png?width=618&format=png&auto=webp&s=42cd7da38ab885fea5ef44a5484ae775453addfe)](https://preview.redd.it/m0gp1hqtovg61.png?width=618&format=png&auto=webp&s=42cd7da38ab885fea5ef44a5484ae775453addfe)

Source: <http://finra-markets.morningstar.com/MarketData/EquityOptions/detail.jsp?query=14%3A0P000002CH&sdkVersion=2.58.0>

I am not a financial adviser, this is not financial advice.

Disclosure: I own GameStop shares.
