Syncora Holdings Ltd. (fka SYCRF)

[InvestorPM]

Leggs Mason a big seller during Q1


According to Thomson ONE Leggs Mason...who owned almost 5% of Syncora.... sold of 35% of their position in Syncora during the Q1. Their share ownership fell by 1,189,000 and as of March 31, 2015 they still owned 2,194,000 shares.

You can interprate the data as you see fit but since they have been a big holder since before the 2008 crash they are selling out at a significant loss. Not sure if there is a new manager on the fund who just wants to get out of it all together and will continue selling it down over the next couple of quarters.

Best thing for the rest of us is that they have finished selling but I have a feeling that they will continue to sell off.