Trading Places: Which ASX shares have institutional investors been buying over January?
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We’ve been keeping track of substantial holder buys (and sells) so you know where fund managers and famous investors are putting their money.
Trading Places is Stockhead’s recap of the substantial holder movements among ASX small caps over the last fortnight.
Substantial shareholders are those holding 5 per cent or more of a company’s shares — 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, as well as any change in their holdings while they remain above 5 per cent.
The list of substantial holder buys was smaller than usual with the January holidays, but there were still a handful of notable trades.
Trades by well known institutional investors included Wilson Asset Management accumulating a 5.6 per cent stake in diagnostic imaging play Capitol Health (ASX:CAJ) and Perennial Value Management accumulating a 6.34 per cent stake in e-classifieds site owner Frontier Digital Ventures (ASX:FDV).
In the resources sector, Delphi upped its holdings in junior gold producer Horizon Minerals (ASX:HRZ) to 8.6 per cent.
Some lesser known institutional investors made trades too. Mercer St Global Opportunities fund took a 10.04 per cent stake in internet of things healthcare company XPED (ASX:XPE).
Hong Kong based hedge fund Old Peak Group increased its stake into tin play MetalsX (ASX:MLX) to 10.71 per cent.
The latter stock is particularly noteworthy being one of the handful of stocks in high purity alumina (HPA) — a specialised product used in lithium-ion batteries.
Shares in FYI are up over 600 per cent in 6 months and while much of this can be credited to sentiment in the broader lithium-ion market, it ran a successful pilot project with Alcoa back in December.
Perennial Value Management cut its stake in semiconductor stock Pivotal Systems (ASX:PVS) to 7.06 per cent.