Ancora: Taking Some Off The Solitron Table
The brewing Solitron Devices ($SODI) proxy battle is well-told, with Eriksen Capital finally breaking bad. The fund has been an owner for a number of years and decided to wage a proxy contest this year [here's Eriksen's proxy letter].
Having been active since 2013, Aoncra Advisors is taking the recent news and strong stock performance to make its way toward the exits. Reducing its stake from 6.5% down to 5.2%. They sold out between $4.25 and $4.54 a share. Ancora owns the bulk of its shares between $3.50 and $4 a share. Undoubtably, there's better things to be spending your money on.