Close Brothers has attracted the attention of hedge fund short sellers with the funds betting on a big drop in the value of the British merchant bank amid wider concerns about the health of the global banking sector, according to a report by the Daily Mail.
Close Brothers has attracted the attention of hedge fund short sellers with the funds betting on a big drop in the value of the British merchant bank amid wider concerns about the health of the global banking sector, according to a report by the Daily Mail.
Wagers against the bank have increased following the release of a ‘challenging’ set of results just days after the collapse of Silicon Valley Bank and Signature Bank in March.
Data from S&P Marker Intelligence reveals that short positions now account for just over 6% of Close Brothers stock, or almost £90 million. Other major UK banks including Barclays, Lloyds and Nat West also have short positions against them, but in each case those bets account for less than 1% of stock.
