Yes its strange - at least Morgan Stanley is out
But the two HSBC funds still have another 7 million to go between them if they intend to sell all their shares. If as you say nitrogen that they may have a mandate to reduce their exposure to O&G sector then it clearly points to a good time to buy as their selling is keeping the SP very low.
At least JP Morgan has been buying significant amount.
Another interesting thing is that Magellan hasn't sold too much, and are have just above 5% holding - perhaps they want to maintain at least 5% holding and have stoped selling.
If its just HSBC selling now then should not be long before they have sold up.
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