Low volumes for ENB as ENS loads up ENS raised $50 million net last week which it is obligated to invest in ENB. Since the ENS deal closed Friday, the volumes of ENB have been very low and the price of ENB has moved up steadily.
If history repeats itself, ENS will have purchased the $50 million worth of ENB by the weekend.
Normally, the end of a buying program would see a pullback in the share price of ENB but with the Q1 earnings out on May 10th and ENB going ex-divi May 15th, the expectation would be to see the share price continue to perform. Look out below after May 15th as the share price always gets punched in the nose when it goes ex-divi.