Bullboard - Stock Discussion Forum North American Financial 15 Split Corp T.FFN

Alternate Symbol(s): FNCSF

North American Financial 15 Split Corp. is a Canada-based mutual fund corporation, which invests in a portfolio of over 15 financial services companies. It offers two types of shares, such as Preferred Shares and Class A Shares. Its investment objectives with respect to preferred shares are to provide holders of preferred shares with cumulative preferential monthly cash dividends in the amount... see more

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North American Financial 15 Split Corp > Short position jumps to 4.5% on FFN

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Post by mouserman on Mar 19, 2021 10:04am

Short position jumps to 4.5% on FFN

As i mentioned in an earlier post, i suspected a lot of shortselling was happening due to underwriters betting short against the stock they promoted to buyers. At the end of 2020, the short position was basically NIL.
This is quite normal and likely was a good bet with a triple witching options expiry day coming today.
It is however bullish for FFN, as sooner or later those shorts will cover. If the financials rebound nicely next week, it could be very soon. If a correction takes hold, the shorts could pile on and drive FFN back below its NAV..

Short Positions for FFN

Symbol	Report Date	Volume	Change	Shares Issued	% Float
T : FFN	2021-03-15	916,863	883,955	20,048,163	4.57
T : FFN	2021-02-28	32,908	16,835	16,667,563	0.20
T : FFN	2021-02-15	16,073	-27,132	16,552,263	0.10
T : FFN	2021-01-31	43,205	38,337	16,552,263	0.26
T : FFN	2021-01-15	4,868	2,868	16,552,263	0.03
T : FFN	2020-12-31	2,000	-12,020	16,552,263	0.01