Speaking of shareholders of record, updated nu
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Posted On: 12/04/2019 7:06:20 AM
Speaking of shareholders of record,
updated numbers held at dtc changed little again, basically adding 1M since end of October.
Why DTC is important?
https://www.investopedia.com/terms/d/dtc.asp
So held at DTC could be for example ETRADE with 30M shares. If you have shares at etrade, then it is included in that 30M. Then etrade has a list of who owns the specific 30M. Shares sold are just moved around in that corresponding electronic ledger system.
So that held at DTC number is approximately the float available to trade. Most of the remaining shares are held at the transfer agent, those share sold in private placements, which haven't been moved over to a broker. The transfer agent does allow for selling, but those would be bought by corresponding brokers and added to DTC system. More commonly they just move their shares over from the ta to their broker, at which time they show up at the dtc. So with all this selling over the last month, the shares sold were already at the dtc. I suspect those moved over in Oct.
updated numbers held at dtc changed little again, basically adding 1M since end of October.
Why DTC is important?
https://www.investopedia.com/terms/d/dtc.asp
Quote:
Most of the country’s biggest broker-dealers and banks are DTC participants. That means they deposit and hold securities at the DTC, which appear in the records of an issuer’s stock as the sole registered owner of those securities deposited at the DTC. The participants—the banks and the broker-dealers—own a proportionate interest in the aggregate shares of an issuer held at DTC. Bank X, for example, may contain a proportion of the group of shares of Stock BB held in at the DTC.
So held at DTC could be for example ETRADE with 30M shares. If you have shares at etrade, then it is included in that 30M. Then etrade has a list of who owns the specific 30M. Shares sold are just moved around in that corresponding electronic ledger system.
So that held at DTC number is approximately the float available to trade. Most of the remaining shares are held at the transfer agent, those share sold in private placements, which haven't been moved over to a broker. The transfer agent does allow for selling, but those would be bought by corresponding brokers and added to DTC system. More commonly they just move their shares over from the ta to their broker, at which time they show up at the dtc. So with all this selling over the last month, the shares sold were already at the dtc. I suspect those moved over in Oct.
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