Interesting to see that NGL Capital Limited has come from nowhere less than a month ago to a holding of over 22m shares / 3.57% today.
A quick web search shows:
NGE Capital Limited is a Listed Investment Company on the Australian Securities Exchange (ASX:NGE). NGE Capital offers investors exposure to an actively managed, concentrated portfolio of high conviction investments. We can invest across all sectors and industries, but in each case our investments are based on fundamental analysis of individual companies. Our aim is to generate strong risk-adjusted returns for shareholders over the medium to long term.
They released an Investment & NTA update on the ASX platform on 31 July. Interesting to read one of the sentences:
"We initiated new positions in three ASX-listed stocks, which we may disclose once we have secured our targeted portfolio weightings"
Now this is interesting! Clearly others are recognising the value of IDA, and building holdings at these cheap levels. This will be worth watching..
I think I'll be adding to my position in the meantime
IDA Price at posting:
9.3¢ Sentiment: Buy Disclosure: Held
