Our Q&As are emailed in our Saturday Morning Report, find the answer to this question below.
You sold SIQ recently @ $8.75. I was to slow & it has fallen further. Can you expand on your decision to sell & would you consider buying back in (in the Income Portfolio) given the recent fall in the share price & solid dividend. Thanks
Hi Ian,
We sold SIQ in late January sending out the following Alert:
The stocks drifted ~4% lower since our exit but ahead of its result on the 26th our reasoning hasn’t changed. We like having some $$ on hand for if/when opportunities arise during reporting season. Importantly, it wasn’t a specific issue with SIQ whose forecast to yield 6.3% over the next 12-months and continues to trade close to its 5-year average valuation. We would consider buying again, but we’d need to see either more downside, or an improved earnings outlook. We still like the company.
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