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.
One of the ASX’s few plays in the legal business LawFinance (ASX:LAW) saw a lot of changes on its register following its recent capital raise.
It banked $21m in a rights issue, and taking up more stock was Lucerne Asset Management and EGP Capital.
Another company completing a capital raising is gold stock Middle Island Resources (ASX:MDI). Notable mining investor Stephen Copulos and managing director Richard Yeates both topped up their holdings.
Another gold stock witnessing substantial shareholder buying is Brazil-focused Big River Gold (ASX:BRV). S&G Hiscock topped its stake up to 8.48 per cent.
Meanwhile, Wilson Asset Management raised its stake in wellness and beauty product seller BWX (ASX:BWX) to 7.06 per cent.
Alex Waislitz’s Thorney Opportunities cut its stake in fintech Money3 (ASX:MNY) to 15 per cent.
Both Yarra Funds Management and Perennial Value Management sold shares in Integral Diagnostics (ASX:IDX). Yarra fell below the 5 per cent threshold but Perennial still owns over 7 per cent.