That would assume that everyone has registered and non-registered shares, which I think might be a stretch. Certainly most of us here do, but new comers would not. I like to believe there is a lot of new money coming in, which is somewhat indicated by the volume today.

Also, not sure who you trade with Junkers but at TD, when you transfer shares out of your non-registered acct into your registered, you are given a choice of the high or low price of the day. I would think that is the norm across all brokerage houses in Canada.