Hello there,
When you change the location of the shadow copy storage area, all previous shadow copies are deleted.
Check the 'Move the volume shadow copy storage area to a different volume' section of this TechNet article:
http://technet.microsoft.com/en-us/library/dd364933(WS.10).aspx
Some useful article links that might throw some insights are listed below https://social.technet.microsoft.com/Forums/windowsserver/en-US/c1e3ad6e-e46c-49ba-8b6e-222440ef50e2/moving-data-drive-with-shadow-copies?forum=winserverfiles
------------------------------------------------------------------------------------------------------------------------------------------------------
--If the reply is helpful, please Upvote and Accept it as an answer–