Dividend Growth Split Corp T.DGS

Nearly a million shares dumped with stop losses hit

[mouserman]

No other explanation for DGS dropping 5% on a day where the TSX 60 only dropped  1.16 or less than a tenth of 1 % .. Now explain how DGS commons drop 5% on the day. Appears to be a Sell in May event, and definitely was not a result of a huge selloff inthe 60 biggest stocks on the TSX.
I sold a few early with a stop loss, but luckily didnt have all of my holdings in that.
I am betting a big bounce back tomorrow when traders realize the TSX  market  basically was flat today. RBC and ANON the big sellers. I would suggest a lot was stop losses on the sell side.
Here was the trading summary.

House Positions for C:DGS from 20220502 to 20220502

House	Bought	$Val	Ave	Sold	$Val	Ave	Net	$Net
80 National Bank	72,815	495,226	6.801	23,670	160,453	6.779	49,145	-334,773
19 Desjardins	49,078	332,390	6.773	8,465	57,521	6.795	40,613	-274,869
9 BMO Nesbitt	50,135	338,983	6.761	21,910	148,571	6.781	28,225	-190,412
7 TD Sec	198,234	1,348,495	6.803	175,474	1,190,838	6.786	22,760	-157,657
79 CIBC	253,313	1,718,407	6.784	245,844	1,668,432	6.787	7,469	-49,975
88 Credential	11,055	75,656	6.844	4,700	31,898	6.787	6,355	-43,758
85 Scotia	49,890	338,533	6.786	43,608	296,922	6.809	6,282	-41,611
57 Interactive	5,080	34,125	6.718	300	2,013	6.71	4,780	-32,112
13 Instinet	4,650	31,967	6.875	0			4,650	-31,967
39 Merrill Lynch	17,900	121,395	6.782	14,500	98,486	6.792	3,400	-22,909
22 Fidelity	1,473	9,986	6.779	0			1,473	-9,986
53 Morgan Stanley	832	5,646	6.786	151	1,019	6.748	681	-4,627
62 Haywood	300	2,037	6.79	0			300	-2,037
72 Credit Suisse	300	2,091	6.97	0			300	-2,091
28 BBS	1,000	6,735	6.735	875	5,950	6.80	125	-785
36 Latimer	0			5	34	6.80	-5	34
84 Ind Trading	58	393	6.776	147	1,001	6.81	-89	608
33 Canaccord	6,000	40,606	6.768	7,000	47,337	6.762	-1,000	6,731
14 ITG	7,067	47,877	6.775	12,511	85,033	6.797	-5,444	37,156
124 Questrade	29,156	198,304	6.801	48,332	334,508	6.921	-19,176	136,204
1 Anonymous	123,483	842,646	6.824	160,605	1,088,069	6.775	-37,122	245,423
2 RBC	85,540	580,904	6.791	199,262	1,354,320	6.797	-113,722	773,416
TOTAL	967,359	6,572,402	6.794	967,359	6,572,405	6.794	0	3

[deisman03]

A million units isn't us small retail investors. That's big boys and girls taking a dive.  They are privy to way more information than you and I are.  You're into it far more than most retail investors, but the big players rule the game.  There's either a new light coming over the horizon and they want to be ready for it or they're stockpiling cash so they can

[Kylemcc10]

These big boys rarely beat the market. They have big sums of capital but I'd never make a decision based on their moves tbh. 

[deisman03]

I agree, but I'm willing to play the swing they create.  Today's increase is a normal "bear trap" condition IMHO or maybe just a dead cat bounce.  Hope it all works out for you.  What's happening now with this volatility isn't unexpected or unprecedented and it's difficult to predict what the outcome will be.  Splits are far to susceptible to

[Kylemcc10]

I'm more concerned about the underlying holdings which are solid. Not to say there isn't more downside ahead. The funds with outrageous premiums that are on the brink of not paying are the ones to stay away from. Feel a bit better in here. Will buy more later if need be.

[marketsense]

I'm only speculating but yesterdays selloff might have been some pretty high powered hedge funds shorting these names such as DGS.   These guys know where the market vulnerabilities are and take advantage as soon as markets get a little shaky.   They know precisely when to make their move and what effect it will have.   Causing a water fall effect by tripping stops is classic