New Found Gold Corp V.NFG

Math

[Tk11455ok]

If GDXJ is increasing its NFGC holdings by 0.1% (0.42 -0.32) and their $ holdings are 3.43B, then they will buy 3.43B x .001 (0.1%) divided by recent share price approx $4 (US) = approximately 850,000 shares. That means they have/will, are actively buying and taking that many more shares off the table. Any math wizards confirm this?

TK
GLTAL

[Retiredgeo]

Assuming 200,000,000 NFG shares (for simplification) 0.32% = 640,000 and 0.42% = 840,000.  They are increasing their shares by 200,000 x 4 USD/share = $800,000 USD.

[Kincar3]

I was thinking that by rebalance they meant adjusting the weightings in the actual fund (not the NFG float).... so with AUM of $3.8 B and a desired increase of 10 bsp, they need to add $3,800,000 worth of stock into the fund?  If this were correct,  and I am not any kind of math guy, and if we said at a $5.75 average (maybe more/maybe less) they’d buy about 660K shares.    I

[Kincar3]

sorry i forgot the USD excnage.. duhhh.   Counting that, they need ~5mil CDN worth of stock so 800 or 900K shares 

[Kincar3]

sorry i forgot the USD excnage.. duhhh.  Counting that, they need ~5mil CDN worth of stock so 800 or 900K shares

[Retiredgeo]

I yield the point.  The press release could have been better written.

[Kincar3]

yes or not written at all,  the ETF fund holdings are public info and the rebalance is their story. 

[Tk11455ok]

Retiredgeo, I believe the % change is in the $ holdings of GDXJ and not NFGC. Other than the US/Canadian $ correction, I still think it should be around 700,000 shares being bought. thanks for your imput.  TK

[DanWarren]

Well, that is HUGE........Lil Shorty is STILL Short about one million shares........and he's acting desperate these past few days......maybe he's selling more shares Short trying to cap the rally.......Lil Shorty is quite likely VERY worried..... ..