Orbis reduces Mortgage Choice holding

Orbis Investment Management lightened its holdings in the shares of Mortgage Choice.

Orbis, a Bermuda headquartered investor, sold its stake down to 3.87 per cent from 5.77 per cent, the investor disclosed in a filing to the Australian Securities Exchange yesterday.

Shares in Mortgage Choice have faded from their 12-month high of $1.40 in November and closed at $1.22 yesterday.