Well-distributed buying
at Wajax
The unit price of Wajax Income Fund, (yesterday's close $18.23), has had a strong run over the past six months, up over 25 per cent and beating the broad market by more than 10 per cent (before distributions). Executives were buying earlier in the year and once again insider activity has caught our eye.
After the unit price pulled back from a mid-summer peak of $19.36, four insiders bought 31,315 units in the public market on a combined basis. The biggest purchaser was chief executive officer Neil Manning who was a net buyer of slightly more than $200,000 worth of units. The most recent buying took place on Nov. 9 when an officer bought 7,815 units at prices ranging between $17.80 and $18.
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors about Canadian markets. INK employees or directors may hold shares in investments profiled. Securities referenced in this profile may have already appeared in recent reports distributed to INK Research clients.
© The Globe and Mail
Only GlobeinvestorGOLD combines the strength of powerful investing tools with the insight of The Globe and Mail.
Discover a wealth of investment information and and exclusive features.
