Although natural gas has lagged most commodities over the past year and a half, it has remained relatively stable during the recent bout of market turmoil. So when we saw Alberta natural gas producer Peyto founder Don Gray buying units in the public market this month, we took note.
The former Peyto chief executive officer and current director acquired 91,700 units in the public market between May 14 and May 18. The trades took place at prices ranging from $13.55 to $13.98. Mr. Gray now holds 3,884,032 units of the trust on a direct ownership basis according to SEDI filings. That represents approximately 3.2 per cent of outstanding units based on quoted market value.
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.