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Petrofac tops list of UK’s most shorted stocks

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International energy services company Petrofac was the UK’s most shorted stock as of 8 July, according to new analysis from global exchange traded product issuer GraniteShares, with some 9.86% of the company’s stocks held short by six investment firms.

Astaris Capital Management LLP held the largest of those short position at 2.51% of Pterofac’s stock.

The second most shorted company was Diversified Energy Company, with 7.68% of its stocks held short by eight fund managers. This was followed by Ocado Group and ASOS with 7.17% and 5.57% of the retailers’ stock held short by six and seven fund managers, respectively.

GraniteShares’ analysis also revealed GLG Partners LP held the highest number of short positions on UK listed companies of any investment firms, with 42 active shorts, followed by Marshall Wace LLP, which held 30 active short positions.

Will Rhind, Founder and CEO of GraniteShares, said: “Petrofac remains the UK’s most shorted stock, signalling that investors expect further price declines. However retailers continue to dominate the list of most shorted stocks, accounting for half of the top 10, with some of the largest hedge funds and asset managers poised to profit from their falling share prices.

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