Some of the heaviest volumes of sales took place during the mid - March selloff (several million). Those that bought are sitting on around 16c profit over quite a short period and in recent days have seen the price plateauing around 59c-60c while the rest of the market has had been volatile with some big rises for some of the more loved and popular stocks. I am not surprised that some have jumped ship when better propositions seem to be available even if only for the short term. It just is simply not moving with the market despite the improvement in its holdings and the quite reasonable discount to NTA. Then there is the general market sentiment about LICs at the moment - most of them are trading at either large or small discounts to NTA whereas a few years back nearly all were at a premium. Sentiment is now playing a strong part in market prices. Just in case you tthink otherwise I am not bagging the current CDM stable of holdings - I think they are reasonable to good stocks and are heaps better than they were 12 mos back.
CDM Price at posting:
60.0¢ Sentiment: None Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)