Trading Places: Here are this week’s substantial holder movements
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Trading Places is Stockhead’s weekly recap of substantial holder movements among ASX small caps, and fund managers feature prominently in this week’s edition.
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.
WA-based private equity firm Azalea Investments spent $77,500 in a placement for underwater drone maker UUV Aquabotix (ASX:UUV).
With the company’s long, spectacular decline from 20c to 0.2c, the purchase took Azalea’s stake to 18 per cent.
The share purchase came only a few days after the company revealed it was being sued by the licensor of its technology over an alleged breach of the licence agreement.
Paradice Investment Management accumulated a 5.91 per cent stake in mining and earthmoving equipment rental firm Emeco Holdings (ASX:EHL).
Regal Funds Management increased its holding in gold producer Red 5 (ASX:RED), while Perpetual took another leap of faith in women’s’ fashion retailer Mosaic Brands (ASX:MOZ) despite a horror couple of months for the firm.
New Zealand-based Pie Funds Management topped up its holdings in IT play Citadel Group (ASX:CGL) to 8.45 per cent.
Last week Neurotech International (ASX:NTI) shareholders got the terrible news that the company’s device was dropped from the Therapeutic Goods Administration’s (TGA) register of therapeutic goods.
Pyxis Holdings made a large sell down of its stake and now only holds 1.62 per cent.
Almond seller Select Harvests (ASX:SHV) had another strong half-yearly and Perpetual cashed out some of its holdings, reducing its stake to 7.99 per cent.