Sprott Officially Joins “Not F*cking Around Crew,” Selling PSLV Relentlessly

Eric Sprott’s 13-D’s are coming fast and furious now, with the latest filing, today, showing that in the last 5 trading days he sold another 1,754,000 shares at a big fat 20+ % premium to NAV, likely reinvesting the proceeds into silver instruments that don’t come with a 20% markup.

 

Date of
Transaction
    
Number of Units
Purchased/(Sold)
    
Price per Unit
  
  9-12-11       (237,200)   $ 18.9173  
  9-13-11       (308,600)   $ 19.1622  
  9-14-11       (376,000)   $ 19.0251  
  9-15-11       (348,000)   $ 18.6482  
  9-16-11       (484,200)   $ 18.9628  

 

You remember the “Not F*cking Around” Crew from The Town?

The Not F*cking Around Crew

I’d say Eric Sprott, having sold shares of PSLV every single trading day since August 18th, has officially reached “Not F*cking Around” status.  Another $ 6.6MM or so in sweet premium to NAV captured in the last 5 trading days (1.754MM shares x 20% premium to NAV x $19 / share).  5.35MM shares remaining, including the 4.98MM shares held by the Sprott Foundation.

For more backstory:

Sep 12th: Sprott sells 1.827MM PSLV

Aug 26th: Sprott sells 1.6MM PSLV

Aug 11th: Sprott sells 565k PSLV

Aug 2nd: Sprott sells 700k PSLV

July 23rd: Sprott sells 1MM+ PSLV

July 14th: Sprott sells 700k+ PSLV

April 28th: Sprott sells 1.6MM PSLV

March 12th: Sprott files to sell his PSLV shares

March 8th: “Misinterpreting PSLV’s Premium to NAV”

July 18th: “Ask Eric Sprott Why He Won’t Buy More Silver for PSLV”

-KD

disclosure: no positions in $PSLV or $SLV

Kid Dynamite is a participant in the Amazon Services LLC Associates Program, an affiliate advertising program designed to provide a means for sites to earn advertising fees by advertising and linking to Amazon.com. If you click on my Amazon.com links and buy anything, even something other than the product advertised, I earn a small commission, yet you don't pay any extra. Thank you for your support.

The information in this blog post represents my own opinions and does not contain a recommendation for any particular security or investment. I or my affiliates may hold positions or other interests in securities mentioned in the Blog, please see my Disclaimer page for my full disclaimer.

You might be interested in:
blog comments powered by Disqus