Trading Places: Who’s onboard the bandwagon of reopening trades?
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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.
The easing of COVID-19 restrictions in the northern hemisphere has given rise to trades described as “reopening trades”.
Paradice Investment Management bought into another fashion retailer City Chic Collective (ASX:CCX), making $32.2 million in share purchases since May.
Spheria Asset Management bought into accounting software company Reckon (ASX:RKN) taking a 9% stake for nearly $5.9 million.
Thorney Technologies’ reopening trades involved increasing its substantial holding in airport shuttle marketplace Jayride (ASX:JAY) while Collins St Asset Management bought more of online vehicle marketplace iCar Asia (ASX:ICQ)