The SIB can work in cash account, but not ideal.
So the way they do this thing you end up getting most of the money, as a dividend, and a few bucks worth as return of capital. So you get a significant capital loss per share that you sell in the cash account. Its all accounting magic and a BS tax trap for the uninformed.
But If you have a bunch of capital gains that you can offset the capital loss against it kinda evens itself out.
But you still end up paying dividend tax rate, instead of capital tax rate on most of the "Purchase Price"
So could be the selling pressure over the last month has been some big boys selling some in the cash account to bring up thier captial gains to apply against the capital loss. Who knows.
I am not a cricket these days, but not interested in the gymnastics needed to do the SIB in a cash account. But it is doable.
This SIB thing sucks for the uninformed retail investor that sells shares into the SIB not knowing the tax consequences or how to mitigate against the tax consequences.
So retail dudes, If you don't know the tax consequences of this in a cash account, DON'T DO IT.
Only in RRSP, or TFSA.
GLTA, cept the dhorties of course!