Great-West Lifeco Inc T.GWO.PR.Q

large volumes

[junglejames]

I've noticed GWO trades large volumes for 4-5 days every 3 to 4 months.   nothing shows up on SEDI as insider trading or NCIB purchases. 

Does anyone have any insights on this trading pattern?

[autofocus111]

From what I can tell, the elevated volume develops around ex-dividend dates.These same spikes occur with ENB.T and BCE.T. The spikes have been much more pronounced since the covd market crash. Presumably trading systems/algos at work to capture quick profits on these high-yielding blue chips.

[junglejames]

If true, how does that work?   They appear to be large block trades, 2+ million shares.  I would expect only ETFs, Mutual Funds, or Pension funds hold that many shares in their portfolios.  Are they lending them out, or doing in/out trades to "shaft' the unit holders of the dividend income? I sure someone is making money doing this.  My question is who is on the

[autofocus111]

That's beyond my pay grade. But I have also noticed that the stock price tends to get driven down hard ex-dividend and then pushed high around the pay dates so synthetic drips end up 'buying' the high priced shares. It's a nice racket they have going for sure.

[Puma1back]

i think it is tied to something the last Federal budget closed - short stock to just before dividend and then cover, collect the dividend and then reshort the stock. You will see with GWO that around the divdend dates you get swings in the short position. CJR - Corus entertainment- is an even more pronounced example.  anyway, they would deduct the costs of the short and collect