Based on past private placements, I would expect VIT's PP to be completed no later than sometime next week. IMO, smart investors have been placing their buy orders for the PP which has reduced the demand for VIT's stock in the open market. I wouldn't be surprised if arbitragers have also helped put a lid on VIT's stock since the PP was announced on Dec 1st. Of special note we have seen several large cross trades recently in VIT between the same brokerage firms - Wellington crossed two very large trades yesterday.