Directors’ Trades: Which ASX directors made the biggest buys and sales last week?
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The volume of ASX directors’ trades, the buys and the sales, have been heating up as the Christmas shopping season commences.
There were 30 trades above $100,000, none trades above $1 million and two were $10 million or more.
The majority of the biggest trades by ASX directors were sales rather than buys.
Leading the way were two directors hailing from PSI Insurance Group (ASX:PSI) – Paul Dwyer and Austin. The pair sold down $30 million and $10 million in shares as part of their company’s $60 million capital raising.
Another pair who sold big as part of a capital raising were Dale McNamara and Robin Levison from mining services company PPK Group (ASX:PPK). They sold $8.25 million and $1.9 million respectively.
The trade came only a few days after their colleague Glenn Molloy bought just over $141,000 in a dividend reinvestment plan.
Bruce Rathie and Paul Brennan of burns tech stock Polynovo (ASX:PNV) parted with $1,194,478 and $678,000 respectively.
Rathie’s explanation was that he was purchasing a commercial office while Paul Brennan was funding renovations of a residential property.
The biggest solo sellers included Senex Energy’s (ASX:SXY) Ian Davies, who had a tax bill to pay, and 4DS Memory’s (ASX:4DS) David McAuliffe who listed several reasons including tax but also buying a property and balancing his investment portfolio.
Moving from the ASX directors who were on the other side of share sales, the biggest buyer was Andrew Hopkins from automotive care and accessories outlet AMA Group (ASX:AMA) who bought $2.3 million.
Tech rich listed Mark McConnell was the other $1m+ buyer, chipping $1.12 million into Adveritas (ASX:AV1).
Following them was Robert Millner of Tuas (ASX:TUA), buying $684,000. This company is a Singaporean telco that was spun out of TPG before the latter company was swallowed up by Vodafone.
Buying in a capital raising were Gregory Columbus of gas stock Warrego Energy (ASX:WGO) who bought $315,000; Charles Lew of rare earths play Hastings (ASX:HAS) who bought $500,000, and Donald Haller of recyclable plastic products maker Secos Group (ASX:SES) who bought over $478,000.