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Inside the Market Friday’s Insider Report: Executive chairman sells over US$70-million worth of this dividend stock

Featured below are companies that have experienced recent insider trading activity in the public market through their direct and indirect ownerships, including accounts they have control or direction over.

The list features insider transaction activity; it does not convey total ownership information as an insider may hold numerous accounts.

Keep in mind, when looking at transaction activities by insiders, purchasing activity may reflect perceived value in a security. Selling activity may or may not be related to a stock’s valuation; perhaps an insider needs to raise money for personal reasons. An insider’s total holdings should be considered because a sale may, in context, be insignificant if this person has a large remaining position in the company. I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.

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Listed below are three securities that have had recent insider buying activity.

BSR Real Estate Investment Trust (HOM-U-T)

On May 16, Graham Senst, who sits on the board of trustees, invested over U.S. $100,000 in units of this REIT. He purchased 10,000 units at an average price per unit of U.S.$10.05, increasing his portfolio’s position to 29,000 units. The REIT has a current annualized yield of 4.9 per cent.

Fortuna Silver Mines Inc. (FVI-T)

On May 16, the company’s president and chief executive officer Jorge Ganoza invested over U.S.$440,000 in shares of the company. He acquired 170,000 shares at an average price per share of approximately U.S.$2.59, raising his account’s holdings to 661,245 shares.

Tree Island Steel Ltd. (TSL-T)

On May 21, president and chief executive officer Dale MacLean bought 38,000 shares at a price per share of $2.4927. A few days earlier, on May 17, he purchased 3,500 shares at a price per share of $2.25. After these transactions, his account balance stood at 416,050 shares.

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Listed below is a dividend stock that has had recent selling activity reported by an insider.

Restaurant Brands International Inc. (QSR-T)

On May 17, executive chairman and co-chairman (and the company’s former chief executive officer) Daniel Schwartz sold 1,041,882 shares at a price per share of US$67.88. Proceeds from this sale, not including brokerage fees, totaled over US$70-million.

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