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.
There were a high number of buys in tech. One was HR tech playform Xref (ASX:XRF) which welcomed Australian Ethical Investment as a substantial holder with a fresh 5.24 per cent stake.
Australian Ethical also bought into document management software stock Nitro Software (ASX:NTO).
Manufacturer of liquid nitrogen-resistent tracking devices BlueChiip (ASX:BCT) has retreated since its disappointing quarterly. But Saville Capital took its holdings over the 5 per cent threshold as the price dipped.
Banking stock 9Spokes (ASX:9SP) welcomed Alium Alpha Fund with a 10.46 per cent stake.
Samuel Terry Asset Management bought into Namoi Cotton (ASX:NAM) despite the company suffering the effects of drought for many months.
Following another solid half yearly from Nick Scali (ASX:NCK) two fund managers, Magellan Financial Group and Ethical Partners Funds Management, cashed out but still kept some skin in the game.
As part of Tinybeans’ (ASX:TNY) recent capital raise, co-founders Stephen O’Young and Sarah-Jane Kurtini sold down some of their holdings, which amounted to just over $4m between them.