NASDAQ Reports Smart Money Is BuyingThe Dec 31 positions are being reported on the NASDAQ website for ONCY. Intuitional investors are buying into ONCY, big time. The reported net activity was an increase of 8,141,527 shares for a total holding of 9,559,408 shares dispersed over 34 institutional investors.
Acuity Investment surpassed Harris Financial, 1,297,690 shares, as the largest reported shareholder by acquiring 6,344,260 more shares to hold 6,532,060. New institutional investors were Franklin Resources, 781,600, Intact Investment, 250,500, and AGF, 144,000. Increasing their holdings were Vertex One Asset Management by 65,000 to 130,000, Morgan Stanley by 65,950 to 83,800, and Counsel Portfolio Services by 45,600 to 52,000.
The big sellers were CPP and RBC. These positions may have migrated north to ONC for currency or other reasons. CPP sold 504,000 shares to hold a modest 6,900 while RBC sold 132,959 to hold 2,462.
With institutional investors buying in this volume, what retail investor in their right mind would consider selling?