Trading Places: The substantial holders who bought and sold this week
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In this week’s recap of substantial holders, one of Opthea’s biggest holders bought another $1.8 million, Regal Funds Management bought an 8.29 per cent stake in DroneShield and Perpetual topped up its stake in Select Harvests.
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.
Many of the major fund managers had been less active in recent weeks with school holidays. This week they were back.
So far in August the biggest success story was eye care stock Opthea (ASX: OPT) – its anti macular degeneration treatment passed its test with flying colours.
Its CEO told investors and brokers in the days afterwards that this was only the beginning for Opthea. One substantial holder that evidently agrees is Baker Brothers. The New York hedge fund manager had a stake over 8 per cent in Opthea and now it has 10.6 per cent having bought another $1.8 million.
Another company that’s had a good run of late is Dacian Gold (ASX: DCN). After production cuts sent it plunging, discoveries have gotten it back on track and Invesvo Australia are now a substantial holder – owning 5.02 per cent.
Alex Waislitz’s Thorney Technologies increased its stake in OneVue Holdings (ASX: OVH) and now owns nearly 13 per cent of the company.
Perpetual topped up its holdings in almond seller Select Harvests (ASX: SHV) to 11.64 per cent. Since October it made a $20 million half-yearly profit and is up over 40 per cent.
Regal Funds Management spent $4m on a stake in DroneShield (ASX: DRO). It now owns 8.29 per cent.
Paradice Investment Management spent $8.2 million on a 8.6 per cent stake on gold explorer Western Areas (ASX: WSA).
Malaysian entreprenuer Mark Chang Mun Kee put another $3.5 million into rare earths play Hastings Technology Metals (ASX: HAS).
IOOF topped up its holdings in Primero Group (ASX: PGX) and Otto Energy (ASX: OEL) to 13.78 per cent and 14.85 per cent respectively.
John Kahlbetzer’s Twynam Investments spent $4.2 million on a 5.06 per cent stake in graphene producer First Graphene (ASX: FGR).
London broker Ruffer sold $1.2 million of its stake in Perseus Mining (ASX: PRU). The African-focused gold miner has more than doubled in 12 months due to staggering production levels.
Australian Ethical Investing ceased to be substantial holders of Australian Finance Group (ASX: AFG) while Vinva Asset Management fell below 5 per cent in Infomedia (ASX: IFM).
The betting sector is a curious sector on the ASX. On one hand many say it’s unethical or at least cringe at its annoying ads. But PointsBet (ASX: PBH) has gained over 50 per cent since listing and Betmakers Holdings (ASX: BET) has done likewise in a few weeks.
We noticed Industry Super Holdings reduced its stake in the latter to 6.03 per cent.