RE: I too am sitting.....30 May 2018 16:19
don't get me wrong, with an eye on the long term, i think this will recover nicely, 630 was as someone said "too fluffy" a price and it fell from that, did it deserve to fall from that given the news in the results alone, no, we all know that that specific market place is fluid, and challenging, and competitive, with their pensions thing mostly out of the way now it's time to move forward, planning for and covering the expected decline in letter volumes.
SLA buying loads currently should indeed indicate support from institutional investors, however given its FSTE100 index status, the main funds have to hold it right ? granted they don't have to hold 5% ! but for them to be hoovering up that volume there is likely as many sellers balancing things out.
I made a tidy profit off this initially, not as much as i could have done had i traded it more, or held for that little bit longer, btut i'm happy with my gain, just as i am happy to buy back in for a good divi, but, i'm wary that i could potentially buy back in after the ex-divi date for a greatly increased discount if this fails to recover sufficiently between now and then