I don't see where they sold. The Schedule 13G filed pursuant to paragraph (b)(1) of this section shall be filed within 45 days after the end of the calendar year in which the person became obligated under paragraph (b)(1) of this section to report the person's beneficial ownership as of the last day of the calendar year, Provided, That it shall not be necessary to file a Schedule 13G unless the percentage of the class of equity security specified in paragraph (i) of this section beneficially owned as of the end of the calendar year is more than five percent.
Seems to me they were just filing because they own more than 5%.
Fintel reports that Cowen Financial Products LLC has filed a 13G/A form with the SEC disclosing ownership of 11.15MM shares of Trulieve Cannabis Corporation (TCNNF). This represents 6.98% of the company.
In their previous filing dated January 20, 2022 they reported 7.05MM shares and 5.48% of the company, an increase in shares of 58.21% and an increase in total ownership of 1.50% (calculated as current - previous percent ownership).
Analyst Price Forecast Suggests 149.54% Upside
So it appears to be just opposite of what you are saying.
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