Trading Places: Here are the stocks fund managers have been buying
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Want to know which stocks the fund managers have been putting their money in (and out) of? We’ve keen keeping track so you don’t have to.
Trading Places is Stockhead’s recap of substantial holder movements among ASX small caps in the last fortnight.
Substantial shareholders are shareholders holding 5 per cent or more of a company’s shares and 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 and any change in their holdings while they remain above 5 per cent.
In recent days equity markets have been rising again and stocks that were solid performers last year were again in demand.
Paradice Investment Management bought almond maker Select Harvests (ASX:SHV), which had gained 50 per cent in 2019.
Plus size womens wear seller City Chic Collective (ASX:CCX) went from 11c to as high as $3.58 in just over two and a half years before plunging to $1.07 in just five weeks.
But it is just over $1.50 again and Spheria Asset Management and Pendal Group both bought shares, now owning over 15 per cent between them.
Spheria also bought into Village Roadshow (ASX:VRL), picking up a 5.2 per cent stake, despite the firm having to close its theme parks due to social distancing laws.
Perpetual increased its holdings in furniture retailer Nick Scali (ASX:NCK) to just over 13 per cent.
One major transaction that occured despite COVID-19 was the demerger of United Malt Group (ASX:UMG) from Graincorp (ASX:GRN). Ethical Partners Fund Management bought a 5.57 per cent stake in the spin off.
Other stocks helping people in this time were popular too. For instance meal kit deliverer Marley Spoon (ASX:MMM) saw Pie Funds Management join its register, while Lumnya Investments bought 5.5 per cent of hand sanitiser maker Zoono (ASX:ZNO).
Several stocks appearing in the seller’s list have been adversely affected, or at least haven’t been able to calm investors’ fears they will be impacted.
For instance Alliance Aviation (ASX:AQZ) has seen all of its codeshare passenger services with Virgin Australia grounded. Perennial Value Management cut its holdings in the stock this week.
Buy now, pay later stock Flexigroup (ASX:FXL) saw Washington H Soul Pattinson sell out. Investors fear a looming credit crunch will see these stocks hit.
Uranium play Paladin Energy (ASX:PDN) saw Maso Capital Partners and Paradice Investment Management sell shares this week. Despite a boost to uranium prices in recent days, miners and explorers have been forced to scale back operations for the time being.