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 > Fee for Borrowing Shares to Short Sell ???

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Post by JohnWalker on Apr 18, 2022 9:14am

Fee for Borrowing Shares to Short Sell ???

Anybody pay any kind of fee (outside of shorting during ex-dividend date) for borrowing shares to short sell. I shorted 30K FFN for 3 days earlier in March and on March 31st NDBD charged me $52.02 with a description of Borrow Fee. I called NBDB this morning and they said the fee depends on how popular the stock is for trading and also based on how many days you hold the short. If I had shorted and then re-bought on SAME day there would have been no fee.

This fee is not described in any of their pamphlets brochures or FAQs.

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