RE:RE:TVE Shares Currently Held By NinePoint Energy Fund?Well considering Ninepoint hasn't updated their website since March 28th, and the TVE share price decline continues, my guess is they've sold off more than the 11 million shares. I think Ninepoint is going short right now with the intent of flipping and rebuying TVE shares and then going long once they've got TVE as low as they can. It seems EN has adjusted his previously lofty outlook for TVE and wants to get the Adjusted Cost Base (ACB) down before TVE commences its move higher later this year. The recent change by the CRA in the Capital Gains Inclusion rate to 66% from 50% means more tax on gains and so that means less profit for Ninepoint. So to compensate for the tax change, they need to buy cheaper shares and when they do they don't want to go over the 10% reporting rule so they need to lower their holdings in order to add more cheaper shares later.
HB77