dfcu bags sh189m at USE
Mar 22, 2005
A sh189m turnover was recorded at the dfcu counter yesterday, the highest amount ever registered in trading at Uganda Securities Exchange (USE), a report has shown.
By Sylvia Juuko
A sh189m turnover was recorded at the dfcu counter yesterday, the highest amount ever registered in trading at Uganda Securities Exchange (USE), a report has shown.
It said over 630,000 dfcu shares were traded in three deals.
Harriet Kiwanuka, USE’s market development and research manager, attributed the large volume to institutional investors.
“In a market like ours, large volumes are due to institutional investors buying into the stock,†she said.
Kiwanuka said the anticipated announcement of dividends is not the only factor behind yesterday’s transaction.
“Institutional investors buy into stocks because of of company performance, growth prospects and a whole spectrum of issues. Dfcu is a buy and hold stock company,†she said. The firm will release annual results soon.
A sh189m turnover was recorded at the dfcu counter yesterday, the highest amount ever registered in trading at Uganda Securities Exchange (USE), a report has shown.
It said over 630,000 dfcu shares were traded in three deals.
Harriet Kiwanuka, USE’s market development and research manager, attributed the large volume to institutional investors.
“In a market like ours, large volumes are due to institutional investors buying into the stock,†she said.
Kiwanuka said the anticipated announcement of dividends is not the only factor behind yesterday’s transaction.
“Institutional investors buy into stocks because of of company performance, growth prospects and a whole spectrum of issues. Dfcu is a buy and hold stock company,†she said. The firm will release annual results soon.