Fund/Institutional Ownership update before Q1 bell
Although there is always a lag with data, the Globe reports Canadian Fund ownership of SVC is now at an all time high before tomorrow's opening.
While recent volumes do not reflect this (it seems), an obvious accumulation has taken place.
TD funds seem to be the most Bearish of the last year (not by much...) while others have been gobbling up their sold shares and then some.
49 funds own 12.38% of SVC.
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Other Data from Morningstar paints a similar picture (as of March 31) highlights top 10 Funds and top 10 Institutions with ownership of SVC at 11.09% and 15.17% respectively
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While the added accumation is not massive, it does indicate some potential momentum coming, not to mention confidence in SVC.
norgo