VWAP

Volume Weighted Average Price, the average price weighted by volume over a period.

VWAP calculates the average price an asset traded at over a session, weighted by volume at each price. Institutions use it as a benchmark to judge execution quality and to fill large orders without moving the market. Price above VWAP is often read as bullish, below as bearish.

The institutional trader aimed to fill the order near VWAP so the execution wouldn't look expensive.