Jun
08
CIBC Reduced Its Stake in Home Capital as the Stock Recovered
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Second-biggest Home Capital holder cuts stake to 14.8%
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Home Capital up 20% since April 28 as deposit flight slows
Home Capital Group Inc.’s second-biggest shareholder trimmed its holdings of the Canadian alternative mortgage provider as the stock rebounded in May.
Canadian Imperial Bank of Commerce’s asset management division, which oversees about C$124 billion ($92 billion), reduced its stake by almost 200,000 shares last month to 9.5 million, according to a company filing. CIBC Asset Management held 14.8 percent of Home Capital across its funds as of May 31, down from 15.1 percent on April 30…
CIBC Reduced Its Stake in Home Capital as the Stock Recovered
