If someone is betting heavily against a UK stock I either own, or plan to own, then I’d want to know about it. Luckily, all firms with a net short position greater than or equal to 0.1% of the issued share capital against a listed UK listed company have to report that position to the the Financial Conduct Authority (FCA). The FCA publishes a daily short position update based on the notifications that it receives reporting those company’s with an aggregate net short positions in excess of 0.5% against their issued share capital along with the identity of the position holders.
The top 25 most shorted UK stocks
The short position report from Friday, 9 August, 2024 and its comparison with the one from a week prior (on Friday 2 August, 2024) is the subject of today’s post. And yet again, Petrofac tops the list although the net short position against the company’s stock has declined from 9.40% last week to 9.25% this week.
Here are the top 25 most shorted UK stocks:
Short sellers have increased their position size against the second placed Diversified Energy Company from 7.57% last week to 7.65% this week. In third place we have Ocado, but the net short position against this stock has fallen from 6.76% to 6.68% over the course of a week. The same is true for fourth placed Kingfisher which saw the new short position against its stock fall from 5.42% to 5.33%. But there was a change in fifth place. Last week it was abrdn, this week it is ASOS for which the net short position has grown from 4.75% to 5.16%.
The 25 stocks with the biggest increase in net short position
As well as knowing the stocks with the biggest net short position against them, its well worth looking at those that have seen the biggest increase in the net short position, as this means short sellers are interested in building a position against the stock.
Here are the 25 UK stocks that showed the biggest increase in the net short position against them over the last week:
ASOS pops up on this list with a gain of 0.41%, not surprising since it made a positional leap on the top 25 most shorted UK stocks table.
The 25 stocks with the biggest decrease in net short position
As well as knowing the stocks with the biggest increase, knowing those stocks for which the net short position against them has fallen the most over the last week is instructive. Short sellers are backing away from these stocks, perhaps they have made their profits and moving on, perhaps they see positive developments down the road for the stock.
Here are the 25 UK stocks that showed the biggest decrease in the net short position against them over the last week:
DISCLAIMER: James J. McCombie owns shares in Kingfisher and Watches of Switzerland. The Storied Investor has no beneficial ownership position in any of the stocks or securities mentioned. No comment in this article should be construed as a recommendation of, or opinion regarding the future performance of, any stock or security or collection of them mentioned herein. Opinions expressed are the author’s and do not represent the views of The Storied Investor.
The Storied Investor 