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UPDATE: Long CMCSK, Short CMCSA

|Includes: CMCSA, Comcast Corporation (CMCSA)
This is an update on the pair trade (Long CMCSK, Short CMCSA) that I posted yesterday.

To start, this pair still looks great and convergence has already started. But why?

I was able to discern that there was a very large seller of CMCSK, for whatever reason. 

Some large holders of CMCSK (for Bloomberg users, CMCSK Equity HDS GO):

- Clearbridge Advisors
- Franklin Templeton
- Capital Research Global
- Lazard
- Eagle

It's likely that one of the top 20 holders decided to unwind a very large portion of this equity, sending the stock down disproportionately to CMCSA.

Jefferies & Co. sold  around 10M shares on behalf on this seller, but it looks as if the selling is now over. The pair has already begun to converge and I expect that it will continue.

Long CMCSK, Short CMCSA

The original note on the pair is located here: https://seekingalpha.com/instablog/529007-catalyst-corner/80499-pair-trade-long-comcast-k-short-comcast-a



Good luck! If you'd like to see the full version of this pair, visit our Pair Tool (completely free) and gives a really nice statistical, fundamental, and graphical output.

Happy trading,
Phil
phil@catalystcorner.com

The graphical representation of the this pair was generated from the Pair Trading Tool at Catalyst Corner. Both the Pair Tool and site membership are completely FREE.

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Disclosure: No positions