Last week, we wrote about insider buying at an income trust that intends to convert to a corporation. However, not all income trusts are planning to make the switch. Chemtrade Logistics Income Fund is one that seems to prefer the status quo. Chemtrade expects to remain an income trust as it believes the nature of its earnings favour retaining the current corporate structure. The fund currently pays a 10-cent per unit monthly distribution.
Insider sentiment trends are positive at the chemical maker and distributor. Recently, chief financial officer Rohit Bhardwaj bought 10,000 units in the public market at $13.13. Over the past year, insider ownership at the firm has been edging up, thanks primarily to employee purchase plans. Meanwhile, there have been no insider sales.
Disclaimer:
Ted Dixon is CEO of INK Research which provides insider news and knowledge to investors. Investments profiled are from a recent edition of the Morning INK report which is distributed daily to subscribers and clients of select financial institutions. INK staff may hold shares in profiled securities.
Graph Footnote:
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.