Post by
BrokerG on Oct 19, 2018 12:48pm
Institutions
Well it looks like our big institutions have sold out.
George Soros [ Quantum Funds] who owned over 25 million shares and was an original owner is out and no longer listed as a shareholder of BNK
Harrington Global - who last year was our #1 sharehodler with over 17% of outstanding shares is out and no longer listed as a shareholder of BNK.
Between them they owned over 60 Million shares.
Capital group who owned 12.5 million shares have increased their position to 25 million. That is the good news.
You can take what you want from this information but when an original shareholder and a company who was your #1 shareholder sell out, it is for a reason.
Comment by
Intransigent on Oct 22, 2018 2:14pm
Harrington is still very much a shareholder, with 17.5% (40.7 million shares), per SEDI and early warning reports.
Comment by
BrokerG on Oct 22, 2018 2:35pm
According to Morningstar, they are no longer a shareholder. You would think SEDAR is the more accurate. As an insider, they would have to issue an insider sales report to SEDAR.
Comment by
Intransigent on Oct 22, 2018 6:02pm
You’ve almost got it. If they sell a single share they’d have to report it on SEDI. As a 10% shareholder, they have to make a SEDAR filing (and issue a news release) if their holdings change by 2% of the float.
Comment by
rajm on Oct 23, 2018 6:27am
It can also mean that on the short term they find offsetting their tax losses of probably 2 bucks a share against capital gains on other stocks makes more short term sense.
Comment by
BrokerG on Oct 26, 2018 9:50am
HI rajm I am having a hard time believing the selling is primarily tax loss selling. We are now at 52 week lows with oil at $66.00. The last time oil was at $66.00, we were trading at .65-.69cents. We have not heard anyhing from Anderson well. What is going on?