Between Sept. 30 and Oct. 15, short sales of Canadian Natural Resources Ltd. (CNQ-T) stock rose by just over 19.7 million shares to just over 39.8 million shares. As short selling increased, insider selling fell. Over the past 90 days, senior officers and directors have been net sellers of 8,022 shares in the public market, well below the rolling 90-day average over the past four years of just over 1.1 million shares. The divergence between short and insider sales may signal a heightened risk of a short squeeze.
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Ted Dixon is CEO of INK Research, which provides insider news and knowledge to investors. For more background on insider reporting in Canada, visit the FAQ section at inkresearch.com. Securities referenced in this profile may have already appeared in recent reports distributed to INK subscribers. INK staff may also hold a position in profiled securities.
Chart reflects public-market transactions of common shares or unit trusts by company officers and directors.