Trading Places: Fund managers were loving industrial stocks this week
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Want to know which stocks fund managers have been buying? We’ve been keeping track so you don’t have to.
Trading Places is Stockhead’s recap of the substantial holder movements among ASX small caps over the last fortnight.
Substantial shareholders are those holding 5 per cent or more of a company’s shares — these can be directors, individual investors, or institutional investors.
Shareholders are required to announce to the exchange when they cross above or below the 5 per cent threshold, as well as any change in their holdings while they remain above 5 per cent.
Many ASX industrial stocks have seen a solid 2020.
Almost all were allowed to continue as essential businesses and some have capitalised on trends such as construction booms triggered by government stimulus and the rise of activity in the minerals exploration sector – especially gold.
Driller Swick Mining Services (ASX:SWK) is one stock to have benefited from the latter and Perennial Value Management now owns nearly 15 per cent.
Perennial also topped up its holdings in aerial mapper Aerometrex (ASX:AMX) to nearly 8 per cent. This company has continued to see strong demand for its services and has even said it has found operations easier with less commercial jets in the skies.
Collins St Asset Management topped up its stake in crane lender Boom Logistics (ASX:BOL) – now owning just over 10 per cent.
Alium Alpha Fund took another leap of faith in Adelaide-based additive manufacturer K-Tig (ASX:KTG), taking its stake to 6.47 per cent.
Specialist pipeline couplings company SRJ Technologies Group (ASX:SRJ) – which only listed on the ASX last week – welcomed Regal Funds Management as a substantial holder. It took a 6.3 per cent stake.
Among other notable trades, Bennelong Australian Equity Partners accumulated a 6.06 per cent stake in baby store Baby Bunting (ASX:BBN) while Alex Waislitz’s Thorney Opportunities bought into supercomputing stock DUG Technology (ASX:DUG) – taking a 5.12 per cent stake.
The most notable trades came from a number of pre-IPO shareholders in communication automation stock Whispir (ASX:WSP). The sell-down occurred as part of a capital raising and soon after the shares had been released from escrow.
Regal cut its stake in gold producer Red 5 (ASX:RED) – one of the few gold stocks to have stagnated in 2020.
Sales from Perennial included from employee wellness software stock Limeade (ASX:LME) and charter airline Alliance Airlines (ASX:AQZ). The latter is one of the few airline stocks globally to have advanced in 2020 due to the demand for charter flights.