North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in the amount of over 5.5% annually and to pay the holders of the preferred shares a certain price per preferred share on or about the termination date. Its investment objectives with respect to class A shares are to provide holders of class A shares with regular monthly cash distributions and to permit holders to participate in all growth in the net asset value of the Company for a specific price per unit, by paying holders on or about the termination date such amounts as remain in the Company after paying a specific price per preferred share. Its investment manager is Quadravest Capital Management Inc.

TSX:FFN - Post by User

North American Financial 15 Split Corp > Still a huge 280000 block on the bid side - head scratcher

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Comment by JohnWalkeron May 19, 2022 12:38pm

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Post# 34695699

RE:RE:RE:Still a huge 280000 block on the bid side - head scratcher

AskMrMarket wrote:
I know our memories are short, but I mentioned this a few years ago (Feb/Mar 2018). TD forces short sellers out if there aren't enough shares held in margin to borrow and sell short in their pool. They stopped me out in 2018, and they likely could be doing the same thing now. Because TD doesn't charge interest for short selling (borrowing shares), they simply use the shares owned in margin accounts that are using borrower money. It's likely a lot of margin shareholders dumped the stock, and TD is forcing equilibrium again.

This isn't retail traders short covering in my opinion. Both large blocks yesterday and today were a single order (just one buyer).

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