Why BHP, NIB, Northern Star, & Redbubble shares are tumbling lower

These ASX shares are having a bad day…
The post Why BHP, NIB, Northern Star, & Redbubble shares are tumbling lower appeared first on The Motley Fool Australia. –

In afternoon trade, the S&P/ASX 200 Index (ASX: XJO) is trading notably lower. At the time of writing, the benchmark index is down 0.9% to 7,458.5 points.

Four ASX shares that are falling more than most today are listed below. Here’s why they are tumbling:

BHP Group Ltd (ASX: BHP)

The BHP share price is down 7% to $41.94. This decline is almost entirely attributable to the mining giant’s shares trading ex-dividend this morning. Last month BHP released its full year results and declared a record fully franked final dividend of 200 US cents or 273.6 Australian cents per share. Eligible shareholders can now look forward to receiving this dividend later this month on 21 September.

NIB Holdings Limited (ASX: NHF)

The NIB share price is down 3.5% to $6.55. This also appears to have been driven by its shares going ex-dividend this morning. The private health insurer declared a fully franked final dividend of 14 cents per share last month. NIB will be paying this dividend to eligible shareholders on 5 October.

Northern Star Resources Ltd (ASX: NST)

The Northern Star share price has fallen almost 3% to $9.63. Investors have been selling the gold miner’s shares amid broad weakness in the gold sector today. For example, the S&P/ASX All Ordinaries Gold index is down a disappointing 2% this afternoon.

Redbubble Ltd (ASX: RBL)

The Redbubble share price is down 2% to $4.10. This morning the ecommerce company revealed that its Co-Founder, former CEO, and current Chairman, Martin Hosking sold 5 million Redbubble shares on-market on Wednesday. Mr Hosking received a total consideration of $21 million for the shares. However, it is worth noting that even after this sale he remains the largest shareholder with 39.5 million shares. This is the equivalent of a 14.4% stake.

The post Why BHP, NIB, Northern Star, & Redbubble shares are tumbling lower appeared first on The Motley Fool Australia.

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More reading

ASX 200 midday update: BHP sinks, Flight Centre expansion

Why the Redbubble (ASX:RBL) share price fell 8% today
Why the BHP (ASX:BHP) share price is down 7% today
Here’s why the BHP (ASX:BHP) share price is down 7% today
5 things to watch on the ASX 200 on Thursday

Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has recommended NIB Holdings Limited. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Bruce Jackson.

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