Selling Preferred shares

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Nortel'd
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Re: Selling Preferred shares

Post by Nortel'd »

According to my TD waterhouse information I see that yesterday
NA.PR.L sold off 122,000 shares
BNS.PR.L sold off 293,000 shares
The number of shares sold is way above the daily average. Is there a redemption in the near future or did a large stakeholder sell to free up some cash.
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Peculiar_Investor
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Re: Selling Preferred shares

Post by Peculiar_Investor »

James Hymas offers an explanation, RBC Roils Market! « PrefBlog
It turned out to be an interesting day today, with RBC executing some frenetic trading (with an assist from Goldman Sachs Canada) that had a major impact on price volatility and volumes.

TXPR was up a miniscule 0.08% on the day, while TXPL gained +0.40%, so it would appear that all these trades were (probably!) more or less cash neutral and constituted a rejigging of somebody’s (or several somebodies’) portfolio.
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