The institutions paid much higher prices (> $1) to buy their shares. They have been liquidating their shares here in the pennies into year end 2014 and so this is a negative. But net/net it is a positive IMO that they ever bought in the first place since they would have done their due diligence and the fundamentals for Banro have arguably gotten better despite the Institutions liquidating. Now why would institutions be selling when they should actually be buying ? I can only speculate: tax loss selling, rules regarding minimum market cap and/or share price, forced selling due to redemptions, avoiding the embarrassment of holding a position that is down > 90% and that is in the most despised sector of the market, etc.
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