PINL:NEPTF - Post by User
Post by
gwrbion Aug 09, 2009 9:31pm
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Post# 16204570
Northern Rivers
Northern Rivers
I am not concerned about Northern Rivers balancing their portfolio. They own close to 8M shares, so selling back 100,000 to 200,000 shares (2.5% of their holdings) is no big deal. I would be curious what they paid for these shares they are selling - as I think they were pretty aggressive when the market plummetted late last fall. If they bought at $0.50 to $1.00, kudos to them for make a couple hundred percent in 6-8 months.
Although, with trading volumes continuing to be so abysmal, I wonder how they were able to unload such a large block. Don't forget, on the other side, someone else is buying - could be new money??