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Message: Possible Inverse Head & Shoulders
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This instititutional ownership tally on Reuters is creeping upwards at an impressive rate.


The last time I checked, which I duly recorded on my own Discovery Stocks blog at SI, institional ownership was only 13 percent, and that was as of Sept. 27.


Now we are at 15 percent.


Here is the new set of numbers at reuters


% Shares Owned: 15.01% # New Positions: 5
# of Holders: 11 # Closed Positions: 1
Total Shares Held: 13,343,115 # Increased Positions: 9
3 Mo. Net Change:
4,434,708
 # Reduced Positions: 2
# Net Buyers:
7

Got that? 11 institutions, with a net change of 4.434 mm shs during the previous three months.

Here is my report from Sept. 27. reuters does not say, but i am guessing it is from the end of August.

Anyway, I just finished writing this:

"in the last three months, institutional invsetors increased their ownership of kxl shares by a net of 2.3 mm shares, which is impressive.

"two INSTITUTIONS reduced their positions in kxl while seven increased their positions. that means a net increase of five institutional investors. a total of nine INSTITUTIONS now own the stock. one closed his position.

"instutional accounts now hold 13 percent of the common stock."

So we went from nine institutions holding 13 percent of KXL to 11 initutions owning 15 percent in a short time. and logically enough, this happened while everybody was fussing and moaning about how down and out the stock has been.

This does not mean the pros are right. It does mean that in a very mean market, we are the same side as the pros.



Michael



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