International energy services company Petrofac was the most shorted UK listed company as of 22 April, according to new data from GraniteShares, a global issuer of exchange traded products (ETPs) with more than $3.5bn under management.
Petrofac had 10.33% of its stocks held short by six investment firms, with Helikon Investments holding the largest position at 2.55% of the company’s equity.
The second most shorted company was international home improvement retailer Kingfisher, which saw 6.48% of its stocks held short by six fund managers. This was followed by Ocado Group and abrdn with 6.29% and 6.25% of their stock held short by seven fund managers each.
The analysis also revealed GLG Partners as holding the highest number of short positions on UK listed companies of any investment firms, with 45 active shorts, followed by Marshall Wace, with 33 active short positions.
In a statement, Will Rhind, Founder and CEO of GraniteShares, said: “Short selling continues to be a prominent trading strategy used by UK investors for tactical investing or, particularly considering the uncertain conditions we’re experiencing, to hedge portfolio’s positions. Our analysis of the most shorted UK stocks reveals some familiar names but also some new entrants to the top ten, with a large number of hedge funds poised to profit from their falling share prices.”
