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Big Banc Split Corp T.BNK

Alternate Symbol(s):  T.BNK.PR.A

The investment objectives for the Preferred Shares are to provide their holders with fixed cumulative preferential monthly cash distributions in the amount of $0.05 per Preferred Share ($0.60 per annum or 6.0% per annum on the issue price of $10.00 per Preferred Share) until November 30, 2023 (the Maturity Date) and to return the original issue price of $10.00 to holders on the Maturity Date. The Company will invest on an approximately equally-weighted basis in Portfolio Shares of the following publicly traded Canadian banks: Bank of Montreal; Canadian Imperial Bank of Commerce; National Bank of Canada; Royal Bank of Canada; The Bank of Nova Scotia; and The Toronto-Dominion Bank. The Portfolio will generally be rebalanced on a quarterly basis, starting on September 30, 2020, so that as soon as practicable after each calendar quarter the Portfolio Shares will be held on an approximately equal weight basis.


TSX:BNK - Post by User

Post by PUNJABIon Sep 02, 2016 2:10pm
156 Views
Post# 25203586

Could be short covering Vol over 10 m shares

Could be short covering Vol over 10 m shares Comark is the main player which is generating lot of volume. He is triggering high frequency trading. Source of shares coming out are from RBC.

I think SAFE approval should come by second week of September if they want to put the deal to bed. GEO has got a good deal they will make all the efforts to buy the company.

There is a short position of 5 7238 326 outstanding. These shares have to be covered. Do not see why someone who would be betting against the deal not being done. There are lot of other stocks to short. Even if the deal is not done. BNK will eventually see over $2.20. The audit decision was in their favour $37m in the pocket. No future taxes on the same issue plus they will bag $20m if the sale is not done by Sept 30.

Short Positions for BNK
Symbol Report Date Volume Change Shares Issued % Float
T : BNK 2016-08-15 5,728,326 595,944 261,557,384 2.19
T : BNK 2016-07-31 5,132,382 137,800 261,557,384 1.96
T : BNK 2016-07-15 4,994,582 113,895 261,557,384 1.91
T : BNK 2016-06-30 4,880,687 -955,676 261,557,384 1.87
T : BNK 2016-06-15 5,836,363 826,723 261,557,384 2.23
T : BNK 2016-05-31 5,009,640 -1,331,960 261,557,384 1.92
T : BNK 2016-05-15 6,341,600 527,585 261,557,384 2.42
T : BNK 2016-04-30 5,814,015 -301,829 261,557,384 2.22
T : BNK 2016-04-15 6,115,844 -3,731,829 261,557,384 2.34
T : BNK 2016-03-31 9,847,673 2,083,564 261,557,384 3.77
T : BNK 2016-03-15 7,764,109 269,102 261,557,384 2.97
T : BNK 2016-02-29 7,495,007 -73,033 261,557,384 2.87
T : BNK 2016-02-15 7,568,040 -63,518 261,557,384 2.89
T : BNK 2016-01-31 7,631,558 -344,131 261,557,384 2.92
T : BNK 2016-01-15 7,975,689 -235,098 261,557,384 3.05
T : BNK 2015-12-31 8,210,787 -2,423,450 261,557,384 3.14
T : BNK 2015-12-15 10,634,237 1,559,232 261,557,384 4.0

House Positions for C:BNK from 20160902 to 20160902
House Bought $Val Ave Sold $Val Ave Net $Net
73 Cormark 4,652,700 8,932,219 1.92 3,457,400 6,634,018 1.919 1,195,300 -2,298,201
99 Jitney 481,900 925,968 1.921 412,300 791,722 1.92 69,600 -134,246
9 BMO Nesbitt 52,500 101,363 1.931 9,800 19,110 1.95 42,700 -82,253
1 Anonymous 2,826,068 5,430,012 1.921 2,789,300 5,355,911 1.92 36,768 -74,101
19 Desjardins 10,000 19,700 1.97 0   10,000 -19,700
53 Morgan Stanley 8,500 16,441 1.934 0   8,500 -16,441
57 Interactive 3,400 6,575 1.934 0   3,400 -6,575
65 Goldman 700 1,365 1.95 0   700 -1,365
72 Credit Suisse 103 198 1.922 0   103 -198
58 Qtrade 0   200 384 1.92 -200 384
124 Questrade 1,000 1,927 1.927 2,000 3,900 1.95 -1,000 1,973
28 BBS 0   5,000 9,750 1.95 -5,000 9,750
3 AltaCorp 100,108 192,735 1.925 128,799 249,199 1.935 -28,691 56,464
85 Scotia 87,200 167,802 1.924 146,400 283,927 1.939 -59,200 116,125
13 Instinet 1,336,000 2,564,278 1.919 1,401,900 2,691,645 1.92 -65,900 127,367
15 UBS 99 190 1.919 81,700 156,685 1.918 -81,601 156,495
39 Merrill Lynch 249,300 480,510 1.927 360,008 691,383 1.92 -110,708 210,873
79 CIBC 42,900 82,260 1.917 203,848 393,642 1.931 -160,948 311,382
7 TD Sec 419,244 809,817 1.932 815,367 1,572,144 1.928 -396,123 762,327
2 RBC 566,597 1,088,889 1.922 1,024,297 1,968,829 1.922 -457,700 879,940
TOTAL 10,838,319 20,822,249 1.921 10,838,319 20,822,249 1.921 0 0

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