That is the best explanation to date as to why Peter would sell shares, IMO. Which brings up the question about GT's selling of shares. Along the same lines as PC selling shares to an investment fund in which he owns, Would GT have needed to sell in order to pay for taxes after converting some shares from an IRA to a Roth IRA. My understanding is that you can convert shares from an IRA to a ROTH IRA but you must pay all taxes due at the time of transfer. After that all gains in the ROTH IRA are tax free. I am not a tax adviser. Just wondering out loud here.