(Updates with quote, price and volume)
By Angela Moon
NEW YORK Aug 30 Shares of Procter & Gamble
fell nearly 5 percent in active trading during a brief
period at midday on'm Friday.
About 329,000 shares changed hands over the space of one
minute at 12:11 p.m. EDT (1611 GMT), when the stock suddenly
fell to $73.61, before resuming its earlier trading range.
A flurry of about 175 trades, executed on the New York Stock
Exchange within a one-second period, caused the decline, with
about 244,000 shares changing hands on the Big Board, according
to time-and-sales data from Thomson Reuters.
"P&G did have a mini-flash crash today," said Tony Venosa,
senior options strategist at Schaeffer's Investment Research in
"Some quick traders were able to pocket big profits in mere
NYSE Euronext, which operates the New York Stock
Exchange, declined comment.
Trading data shows the stock was trading in its prevailing
range on other exchanges. The stock was up 0.7 percent at $77.83
in late afternoon trading on Friday.
With less than an hour remaining in the session, about 4.6
million shares have changed hands in the stock so far.
(Additional reporting by Ryan Vlastelica; editing by Bernadette
Baum and Leslie Gevirtz)