New analysis from GraniteShares, a global issuer of ETPs, reveals that on 1 September 2024, Petrofac was the most shorted UK listed company.
The international energy services company had 8.69 per cent of its stocks held short by five investment firms, with Astaris Capital Management LLP holding the largest position at 2.51 per cent.
Diversified Energy Company was the second most shorted company with 7.84 per cent of its stocks held short by eight fund managers. This was followed by Ocado Group and Burberry Group with 6.18 per cent and 6.06 per cent of the retailers’ stock held short by five and four fund managers, respectively.
The analysis also revealed GLG Partners LP held the highest number of short positions on UK listed companies of any investment firms, with 40 active shorts. This was followed by Marshall Wace LLP, which held 32 active short positions.
Will Rhind, Founder and CEO of GraniteShares, says: “Energy and retail firms are seen as areas where share price weakness is creating the chance for investors to bet against firms with Petrofac the most shorted stock in the UK along with Ocado, Burberry and Kingfisher.”
“Shorting has long been a powerful tool in the arsenal of institutional investors, but we have seen a rise in retail traders using short ETPs like ours to explore market opportunities. While some retreat to the sidelines, sophisticated investors see opportunity to increase their exposure and potential returns through leverage, and hedge against long positions.”
