ETF non-one-way escape channel shareholder number grows slightly

-Our reporter Li Yangdan in the Yangtze River Power soon, there are market participants that the Yangtze power as a component of the Chinese stock Shanghai 50ETF and Huaan Shanghai 150ETF Two ETF has become the Yangtze River power holders during the suspension of funds to escape the channel. The change in the number of shareholders and the number of two ETF funds holding the Yangtze River power during the period of suspension of power in the Yangtze River can fully confirm the existence of this channel.　　However, in terms of specific data changes, it seems that investors are not just "escaping". According to wind statistics, the Yangtze River Power disclosed in the interim last year, the number of shareholders 477,304 households, the first quarter of this year, the number of shareholders increased to 477,504 households.　　Since the third quarter of last year, the number of shareholders in the company has been growing modestly.　　The changes in the number of shareholders of the company show that the funds holding the Yangtze River Power through the purchase of two ETF other shares, forming a demand for the fund's basket of shares, and then to purchase, and then in the two-tier market to sell ETFs, that is, can be achieved during the suspension of the Yangtze River Power However, the change in shareholder numbers does not show the direction in which funds operate the Yangtze power through ETFs. If through the opposite operation, also can buy the Changjiang electric power during the suspension period.　　Investors only need to buy any of the two ETFs at market value in level two, and then redeem a basket of components, including the Changjiang power, for the power of the Yangtze.　　In general, when ETF positions increase, it shows that the owners of the Yangtze River Power are withdrawing funds through ETFs, thereby transferring their holdings of the Changjiang power stock to ETFs, while the decrease in ETF positions suggests that funds are being bought and redeemed to gain power shares in the Yangtze River. Wind statistics show that the Shanghai 50ETF in the 2008-year report of the 45,512,268 shares in the Yangtze River Power, the third quarterly shareholding to increase to 47,938,995 shares in 2008. This to a certain extent confirms that at that time part was "off" in the Yangtze River power funds through the Shanghai 50ETF escape. In the Shanghai 50ETF 2008 Annual Report, the number of shares fell to 44,412,888 shares, to the first quarter of this year, further down to 34,941,288 shares.　　Similarly, Huaan Shanghai 150ETF to the Yangtze River Power position number also appears to increase first and then drop trend. Of course, investors ' normal arbitrage on ETFs has led to a change in the number of two funds holding the power of the Yangtze, but the change in the number of positions will at least indicate that investors holding the power of the Yangtze have not run out again in the four quarter of last year, perhaps as the Yangtze Power Asset Restructuring Program The time is approaching, as well as the two-tier market, there is money in the reverse operation to obtain the Yangtze River Power stock.