Keyera Corp T.KEY

Fighting the Shorts

[retiredcf]

KEY has the 11th highest % of stocks sold short for mid-cap  companies (6%). GLTA

[Puma1back]

It goes ex-dividend on Friday - they are jamming it up till tomorrow than Friday i bet it drop 2 to 3 times the 50 cent dividend. Happens almost every quarter.

[Puma1back]

some serious volumes over last 2 days - yesterday almost double the usual & today another doubling.  still wondering if it is part of a strategy for shorts to play over  ex-dividend day to reduce their costs on the short positions? Short over the date and you have to pay the 50 cents but if it drops over the following days by $1.50 you still pulled in a buck a share and reduced

[Puma1back]

  only day 1 of ex-dividend and the low drop spread  is 2.5 times the dividend amount of 50 cents. Easy traders pickings and nice way to reduce short carrying costs  

[Puma1back]

Well as of June 15th the shorts have dropped from their April 15 th peak of just over 12 million shares by some 3.2 million shares. we are now at 8.8 million short. will be interesting to see June 30th

[Puma1back]

We have even dropped out of the Globes top  15 of shorts for small and or mid caps - their definition is pretty sloppy. Anyway, just another metric that has helped switch the momentum of this stock  

[Puma1back]

15 year channel chart