RE:RE:Something is cooking here
Relaxrelax wrote: Probably Nuttall taking a larger position. He dumped VET, so he probably has a lot of cash on hand.
He could theoretically buy a few more shares, but not many. He is restricted to less than 10%, at the time of purchase, two different ways.
1] he can't own 10% of the total shares outstanding. So if there are say 572 million outstanding, as reported on s/h, he can't own more than 57.2 million. And that includes every ninepoint fund, and all his personal or family accounts. And he's disclosed previously, he owns it personally.
2] He ALSO can't own 10% of his fund asset value, at time of purchase, in any one stock. So that means, for example, if his fund is $1.5 Billion, today, he can't buy one single share, today, if it puts him over $150 million worth. At $2.75 per share, that's 54.5 million shares.
So, in theory, he could, if he pushes the max of both limits, own, for simple math purposes,
54.5 million shares in his fund PLUS a very few million more spread between other ninepoint funds, and his personal/family holdings, up to a total of less than 57.2 million shares.
So, bottom line, no, I don't think he's been buying any more shares lately. He's been at the max or very,very close to it since he bought just under 10% of the shares 2 years ago at 18 cents from those Equinor schmucks from Norway.