SEI Novus, an investor data and analytics solution, has released its monthly pan-European short position data for March, revealing a increase in significant increase in activity.
SEI Novus, an investor data and analytics solution, has released its monthly pan-European short position data for March, revealing a increase in significant increase in activity.
The data is calculated as a proportion of aggregated European short position data from all ESMA-regulated countries and the UK to give a detailed overview of short activity by industry, fund, geography and short position performance. The aggregated data set covers over EUR30 billionn in short positions from more than 150 managers. Key data points for February include (all figures accurate as of 31st March 2022):
Marshall Wace LLP was the manager with the greatest short exposure in March, accounting for 20.09 per cent of registered short positions (up from 15.69 per cent at the end of February), followed by BlackRock Institutional Trust Company accounting for 9.31 per cent and AKO Capital LLP accounting for 9.00 per cent.
The largest short position in the last week of March was registered by Marshall Wace in Koninklijke Philips NV (Dutch healthcare technology company), accounting for 0.94 per cent of total aggregated European short positions by size, followed by a second Marshall Wace position in Ferrovial, SA (Spanish sustainable infrastructure operator), accounting for 0.57 per cent, followed by Millennium Capital Partners’ position in Aker BP (Norwegian oil and gas exploration company), accounting for 0.54 per cent.
GIndustrial stocks were the most shorted in March, ending the month accounting for 22.22 per cent or total short activity in Europe, followed by consumer discretionary stocks accounting for 21.12 per cent of registered European short positions. Industrials and consumer discretionary have consistently been the most shorted sectors so far in 2022.
The top five most shorted European stocks by size, as a proportion of all registered European short positions: Adidas, 2.3 per centl Mowi ASA 1.6 per cent; Kingfisher 1.5 per cent; KLEPIERRE 1.3 per cent; and Just Eat 1.3 per cent.
The top three countries with the greatest short exposures were the UK with 24.18 per cent (a significant decline from 28.78 per cent registered on 28th February), followed by Germany with 19.21 per cent (up from 16.64 per cent on 28th February) and France with 12.91 per cent (relatively level on the previous month).
Home 24 SE (German online retailer) and Morphosys AG (German biopharmaceutical) jointly held the greatest number of managers holding short positions in the firms with seven each, followed by McPhy Energy SA (French hydrogen production and storage business) with five.
