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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 or perhaps shares may be sold to address tax implications when options and rights are exercised. 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. In addition, I tend to put great weight on insider transaction activity when I see multiple insiders trading a company’s shares or units.  Furthermore, it can be of value to note if an insider’s share or unit balance (investment in the company) is trending higher or lower.

Listed below is a security that has had recent buying activity reported by an insider.

H&R Real Estate Investment Trust (HR-U-T)

Between June 24 and July 9, chairman of the board of trustees Ronald Rutman invested over $487,000 in units of this REIT. He purchased a total of 50,000 units at an average price per unit of approximately $9.74 for an account in which he has control or direction over (FEZ Financial Corp.), after which this account held 1,288,609 units.

On May 14, the REIT announced a 50 per cent reduction in its monthly distribution, reducing it to 5.75 cents per unit (69 cents per unit yearly) from 11.5 cents per unit. The REIT is currently yielding 7.2 per cent. Management stated in the news release, “This new distribution rate provides additional financial flexibility to absorb any income interruption related to the pandemic in the near term, and allows for significant capital reinvestment into our properties to address tenant turnover without increasing the REIT’s financial leverage. The new distribution rate is also expected to satisfy the REIT’s requirement to distribute all of its taxable income. The Board and management have not taken this decision lightly, and are hopeful conditions will improve to result in this decision appearing to have been overly cautious.”

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Listed below are three stocks that have had selling activity reported by insiders.

Aurinia Pharmaceuticals Inc. (AUP-T)

On July 8, co-founder and chief medical officer Neil Solomons sold 10,000 shares at a price per share of $21.15, reducing this particular account’s position to 187,299 shares. Proceeds from the sale, excluding trading costs, exceeded $211,000.

Enghouse Systems Ltd. (ENGH-T)

Year-to-date, the share price for this tech stock has rallied 53 per cent.

The chairman and chief executive officer Steve Sadler has been steadily selling shares in the public market. Month-to-date, between July 2 and July 10, Mr. Sadler divested a total of 213,000 shares at an average price per share of approximately $77.49 for an account in which he has indirect ownership (2717065 Ontario Inc.), trimming this account’s holdings to 6,825,400 shares. Proceeds from the sales, not including commission charges, totaled over $16.5-million.

Equinox Gold Corp. (EQX-T)

On July 9, Doug Reddy, executive vice-president – technical services, exercised his options, receiving 50,000 shares at a cost per share of $8.62, and sold 50,000 shares at a price per share of $15.41, with 71,909 shares remaining in this particular account. Net proceeds from the sale, excluding any associated trading fees, exceeded $339,000.

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