RE:Institutional holdingsObscure1 wrote: Institutions held about 900mm shares (60% of the outstanding shares) of SU at the end of the first quarter.
Over a 9 month period starting in July 2020, Enbridge traded 1 billion shares via end of day pre-arranged trades, which represented 50 of Enbridge's float. During the same period, the percentage of institutional holdings dropped by about 8% from 58% to 50%.
Institutional holdings of SU dropped by 50mm shares in the first quarter representing a little over 3% of the float. Will the percentage of institutional holdings drop at a faster rate for SU because the company is buying back and cancelling shares?
Good Question
Really depends on who tenders their shares to the buyback.
In terms of ENB, there were also some MOO trades as well as the MOC trades that you refer to. The big question was where did all these shares go if the institutional percentage didn't really change that much. One of life's great mysteries I guess.