Where DRIP stands for Dividend-ReInvestment Program. The company paid 13+ million in dividends into shareholders accounts on Friday, most of which were re-invested, hence the buying momentum.
I can see no other reason for the rally. Let's see what happens next week- I predict the shares will fall back.
Good rally coming in PDS. Very undervalued.
leewardcape. the shares did not rally on Friday they closed down. Are you sure you are talking about MBI?
Effective March 18th,
S&P/TSX COMPOSITE DIVIDEND INDEX - MARCH 2013 - QUARTERLY REVIEW
Issue Name Symbol
AuRico Gold Inc. (AUQ:$6.67,00$0.13,001.99%) AUQ
Precision Drilling Corporation (PDS:$9.09,00$0.47,005.45%) PD