Q: As a holder of FRU, I notice that there has been a marked decline beginning in early April. Does there exist any evidence of major sales by large holders, such as institutions, ETFs or, say, CNR?
Thanks for all you do, Bill
Thanks for all you do, Bill
5i Research Answer:
Manulife was a large seller last year, but this year we do not see significant transactions. The sector has bounced around this year, and FRU is down 13% YTD. The last quarter was fine, but estimates have been ticking down over the past month (most likely commodity-price related). We see no materially negative news of late.