Noranda Income Fund Unit T.NIF.UN

RE:Maybe some one is shorting

[Bigbird999]

I agree it is strange, but I don't think we can read much into this.  The last 2 trading days were ex-dividend.  Somebody keeps offering 5000 - 10000 share blocks to knock the price back below $3.  But as soon as they stop doing this it bounces back up. 

Today there were ~90 trades for a total of 22,000 shares traded.  9 trades counted for about half of the volume, an average of ~1100 shares per trade.  So that means about 11000 shares in the other 80 trades (an average of 137).  Lots of 100 - 200 share trades and a bunch of odd lot trades adds up to a bunch of folks doing DRIPs.  In my mind these shares are effectively removed from the trading pool as the buyers park them to collect a 17% dividend and wait for a payday at the end.  Yesterday 185000 shares traded with several (6 or 7) large trades of ~10000 shares about 1/3 of the volume.

Then there is the whole question of where the 4 million shares that were held by Phillips Hagar and North ant the end of February ended up.  ckwong posted about this on March 8.  It is my understanding that if the 4 million shares were privately placed, with a single buyer, they would have to announce because it represents more than 10%. 

Like you said it is all very strange

BB