Post by
retiredcf on Oct 21, 2023 1:39pm
Recent Selling
Are you aware of anything that is causing this downdraft in the share price of BIP.UN?
Earnings are Nov 1, pre-market. CIBC and Merrill Lynch Canada, and 'anonymous' have done most of the selling in October. We see no disclosed reports of fund selling recently, but note BMO Funds were a significant seller of stock in the 2Q. Morgan Stanley was also a net seller last quarter. There has been no recent news, good or bad. BIP.UN does have an automatic share buyback plan in place. It is hard to gauge what's going on here. Any comment, without disclosure, would only be a guess anyway. It is 'probably' one or two funds that are exiting their whole position, for whatever reason. It is fairly rare to see 5%+ declines on such a large stable company. Its last quarter was good and ahead of estimates. (5iResearch)