Cogent Releases Automated Stock Recall Tool

March 22, 2007 ( - Cogent Consulting LLC has automated the tracking and recall of shares on loan for institutional investors and the monitoring of material corporate events with its new product ProxyTrak.

According to a Cogent press release, the company designed the product to help mutual funds, pension funds, hedge funds and trust companies fulfill their fiduciary duty to vote proxies on material issues by helping them quickly recall shares of stock they own, but have lent out.

The best part is that at the click of a button, money managers can instantly request the recall of shares of a stock from their lending agent,  said Robin Hodgkins, president and CEO of Cogent, in the release.

Each day, a firm’s money managers can log into ProxyTrak via a secure, password-protected Web interface and see, on a stock-by-stock basis, the number of shares owned, the amount that has been loaned out, upcoming material corporate actions related to their portfolio, and the record and event dates.

Users can sort and filter the data any way they like and they can receive PDF reports based on any parameters requested.   

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