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Western Asset Mortgage Capital Corporation Message Board

  • tomg86402 tomg86402 Dec 19, 2013 5:26 PM Flag

    over 4 million shares short, PAY UP shorty.

    that's a little over 17% of the float. we could see a short squeeze over the next couple of days as shorty runs for cover. $2.35 is a lot to swallow if you are short. WMC is the star of mreits. JMO

    Sentiment: Strong Buy

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    • Most of it is shares not cash. The initial reaction may be positive and is an opportunity to lighten up a little. I have a sell order for 100 shares at 17.75. If it goes through I'll have 500 left.

      Sentiment: Hold

    • So, given that shorts have to send the dividend to the share owners and that dividend may be either cash or stock or both, what do the shorts have to do. Do they have to send all cash or do they have to buy shares and add it to cash? Does anyone know how this would work? Thx.

      Sentiment: Buy

    • The last I saw today when I was looking was that there were about 29,000 shares left available to short. This is a hard to borrow position thru Fidelity. The shorts will really be scrambling to cover this in the next few days and there are not enough shares left to short more to push it much lower. After hours volume is high and the last after hours price I saw was $17.04. Should make for a very interesting Friday

      Sentiment: Hold

    • blair.wagner Dec 19, 2013 5:51 PM Flag

      Sure hope you are right Would rather take a small loss than to have to pay out all that dividend money,
      you May get back as the shares retreat after the x date. Risky either way.

      Sentiment: Strong Buy

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