The iShares Financials (XFN) and iShares Real Estate Investment Trusts (XRE) exchange traded funds have been flirting with 52-week highs. Meanwhile, our financials insider indicator suggests corporate executives feel it is a better time to sell stock in the sector than to buy. During the past two months, there were about two financial stocks in Canada with executive sell-only filings for every one with buy-only filings.
Canadian Apartment Properties REIT CAR.UN-T stands out as one of the companies with buying instead of profit-taking. On March 3, board chair Michael Stein bought 25,504 units in the public market at $13.99. Generally speaking, when there is significant insider buying after a stock has risen, it is often worth noting. It could signal that opportunity may still exist, despite recent price gains.
Disclaimer: Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. Investments profiled are from a recent edition of the Morning INK report which is distributed daily to subscribers and clients of select financial institutions. INK staff may hold shares in profiled securities.
