First Mining Gold Corp (FFMGF)

[Implanting]

Before Van Eck began selling FF from the GDXJ they held around 87 million shares (if I recall correctly) and by the end of the rebalancing period I THINK they were down to holding like 33-34 million shares. I quit following the numbers after the rebalancing period, so I don't know what they've done since, but they unloaded a lot of FF shares when they rebalanced the fund.

It's speculation on my part, but I believe it's possible some of those shares that were being unloaded/may still be sold, as tax-loss shares from the entities that bought the GDXJ shares that were sold. As I recall the last day of the rebalance they sold like 30 million shares, so somebody was holding many of the GDXJ shares after the rebalance.

FF's percentage in the GDXJ was around 2% before they started selling, but the purpose of the rebalancing was to lower their holdings. FF is First Mining shares listed on the TSX in Canada.