As Tamarack Valley Energy Ltd. TVE-T rallied in March, short sellers appear to have been squeezed as the shares sold short against the stock fell by about 6.4 million for the reporting period ended on March 15. As shorts were covering, insiders were buying. Last month, four company senior officers spent $230,804 buying shares in the public market. The 62,106 shares were bought at an average price of $3.72. The company also repurchased 3,044,700 shares at an average price of $3.55 according to INK data (not on chart).
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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.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.
Ted Dixon