New analysis from short & leveraged ETP provider GraniteShares reveals that on November 28th, 2022, online fashion giant Boohoo Group was the most shorted UK listed company.
Some 8.5 per cent of its stock was held short by nine investment firms with Marble Bar Asset Management LLP holding the biggest position at 2.47 per cent, the firm says.
Many of the top 10 most shorted companies were retailers with ASOS and Majestic Wine the second and third most shorted with 8.4 per cent and 6.4 per cent of their stock held short while Kingfisher was the fifth most shorted with 5.6 per cent of its stock held short. Green hydrogen firm ITM Power was the fourth most shorted with 5.8 per cent of its stock held short.
The analysis reveals GLG Partners LLP had by far the most short positions on UK listed companies of any investment firms with 39.
This was followed by Marshall Wace LLP, BlackRock Investment Management (UK) Limited and JP Morgan Asset Management (UK) with 32, 26 and 12 short positions, respectively.
Will Rhind, Founder and CEO of GraniteShares, says: “Retailers are bearing the brunt of the cost of living squeeze on consumer spending in the UK with companies in the sector coming under pressure and Boohoo and Asos emerging as the most shorted companies.
“However research on the top 10 shows that investors are looking at a wide range of sectors when choosing to short companies with green hydrogen firm ITM Power and Standard Life Aberdeen also increasingly seen as targets.
“In these volatile markets, sophisticated investors are increasingly looking to short stocks and using products such as ETPs to do so.”