Exchange Income Corp. stock has been under pressure this month as short-sellers questioned the monthly dividend's sustainability. Insiders are taking the other side of the trade. In the week following the July 19 release of second-quarter earnings, 11 insiders have bought a total of $1.3-million worth of stock in the market. The buyers included former Manitoba premier Gary Filmon, who bought 2,000 shares on July 25. The company also restarted its buybacks, repurchasing 73,290 shares in the first three days of this week at an average price of $27.07.
Disclaimer:
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at www.inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Graph Footnote:
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.