Second quarter Clear Harbor dumped 58K shares and left them with 135K shares to go. I suspect Gruber & McBaine Fund probably did the similar move also because between 4th qtr 12 & 1st qtr 13 they already dumped over 740,000 shares (596K were bought up by Gruber & MaBaine as individual) with 350,000 more shares to go. Together they have 543,000 shares at 3/31/13, last quarter 58K down and still have 485,000 shares to go before Gruber Fund discloses their position on LIWA. Without other funds actively buying LIWA last quarter, the continuous selling of these two will create those stagnant stock price as Johnskokie talked about.
Thanks for the insight elpaso, but it's got me scratching my head wondering why they're dumping shares as a Fund but then buying them as individuals. Do I recall you thinking that perhaps the Fund was going out of business? It seems retail investors don't have the clout to move the share price if the funds are actively selling.
Well, all things must come to an end. When their selling ceases, and LIWA hopefully enjoys continued good quarterly results, we may witness the elusive "run up" we've been waiting for.
They appear vulnerable to a conflict of interest if they're selling shares held by the fund to themselves and the share price begins a long upward rise. On the other hand, to buy shares the fund is selling if they believe shares will stagnate or fall in value makes no sense. The fund liquidating all assets seems a logical explanation. Shareholders sometimes have the choice to receive cash or shares held by the fund.