Institutional investors bought over 7 million more shares today. The bid was 999 and the ask was 999 for long periods today when I looked at the trading. Institutionals now control 46.7% of Connacher's common shares. This is getting close to the 50/50 institutional/retail position that Connacher stated on page 10 in its most recent presentation from several weeks ago. I have been watching SEDAR and nobody has filed an Alternative Report since November 4th to indictate that they have acquired a large ownership position and their intentions for their shares.
I was under the impression that normally, having a large percentage of a company's shares in the hands of institutional investors was a good thing as it adds stability to the share price etc. over time. Am I wrong? Do we have any reason to be worried at this moment that I am not seeing? What are your thoughts on this?
Wednesday, December 9, 2009
Institutional Holders
|
% Shares Owned:
|
46.70%
|
|
# of Holders:
|
36
|
|
Total Shares Held:
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199,529,210
|
|
3 Mo. Net Change:
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1,329,570
|
|
# New Positions:
|
3
|
|
# Closed Positions:
|
3
|
|
# Increased Positions:
|
12
|
|
# Reduced Positions:
|
7
|
|
# Net Buyers:
|
5
|
Best Wishes; Scott
