I apologize for my ignorance, but why do institutions only own 12% of BP? I am a potential investor and would greatly appreciate any insight from the board as while the price is attractive, I was surprised by this metric. . .
IMO, I believe the 'tutes probably have confidence in BP's recovery but are still wary of possible future attempts by the Obama administration to violate standing laws regarding compensation for the spill and and cleanup efforts.
Low institutional participation is probably the reason why BP fell behind the other majors.