OTCPK:PILBF - Post by User
Post by
seatleslimon Jul 31, 2017 1:43pm
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Post# 26529518
Speculation on volume
Speculation on volumeIt looks like clarington threw in the towel on this name a long time ago. At one time they appear to have owned 12 million shares across 3 or 4 of their funds. It looks like they were down to 6 million shares by March 2017. The bulk of this is owned in the Sarbit US equity fund, which has assets of around 1 billion. PLS is and was a meaningless position. Hard to understand why they ever owned it there. The fund is holding 64% cash (because he thinks the market is rich) and 6 or 7 other positions, including Berkshire Hathaway that are between 2 and 9% positions. The last stock on the list is the polaris position at .4%.
If this his flurry of volume is claringting seems doubtful that it is related to any new fundamental observations. It looks Ike they've been selling off the position for over a year to the point where it is virtuallly meaningless. There have been several of these block trades since March. If it's them, they would appear to be about done.