Commentary - 12/04/2012

Blackrock Hits Canada's Big Five Banks

While investigating the wholesale dumping of gold/silver mining shares by Blackrock in a previous commentary (here), it looked like Blackrock was also dumping on Canada's Big Five banks. My only point here is to bring this to your attention. It seems like an aberration that may affect your investments, and is presented only for your own defensive knowledge, not as advice. Any comments or thoughts on this would certainly be appreciated.

When Barclays Global Investor UK Holdings merged into Blackrock, Blackrock became one of the world's largest institutional shareholders, usually having the largest holdings in a company when considering the holdings of its seven divisions.

When the 3rd quarter of 2012 had ended, Blackrock had dumped over 65 million shares of Royal Bank of Canada (report) and over 59 million shares of Bank of Nova Scotia (report).

By the way, in fairness, you'll also find the major buyers in theses charts, too. It is noteworthy the size of the total shares that didn't find another home. Perhaps they went into private hands. Notice the drop, in just one quarter, of 59,209,965 shares of the Royal Bank of Canada that are no longer held by institutions.

Here's the list of Canada's Big Five banks.
Click on the company name for its report. (Total shares unloaded)

Blackrock's recent actions have got to drive technicians nuts.
That's just another reason that Sometimes The Dragon Wins

2012 by Edward Ulysses Cate
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