Trading Places: Who’s betting on return to office stocks?
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Trading Places is Stockhead’s recap of the buys and sells of ASX small cap shares by fund managers and other famous investors over the last fortnight.
Specifically, Stockhead tracks substantial shareholder movements, being shareholders 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.
One of the worst hit sectors is serviced offices generally as people shifted to working from home. But Fidelity recently tipped up its stake in one ASX-listed company, ServCorp (ASX:SRV), to 9.57%.
The company’s last financial update was at its half-yearly results in February. It said when the pandemic ends “flexible workspaces will be more important than ever”.
On the theme of returning to normality more generally, Saferoads (ASX:SRH), a company that makes road safety equipment also had a substantial shareholder top up its holdings – Cimteck Super now holds 11.58%.
And transport company Jayride (ASX:JAY) welcomed Acorn Capital as substantial shareholder taking an 8.76% stake for approximately $2.5 million.
Elsewhere on the bourse, Betmakers (ASX:BET) welcomed Paradice Investment Management which accumulated a stake of just over 5% (accumulated through $13 million of trades since March) by July 22 and then paid another $9 million to reach over 6.2%.