SAIPEM IS THE MOST SHORTED ITALIAN STOCK
Posted:Saipem is currently the most shorted Italian listed company with 3.24% of the stock of the oilfield services company held short by three investment firms, our analysis shows. Citadel Advisors Europe Limited holds the largest position at 1.52%, the data shows.
Eurogroup Laminations, a world leader in the design, production and distribution of stators and rotors, was the second most shorted company with 2.61% of its stock held short by three fund managers. This was followed by Illimity Bank and Fincantieri with 2.15% and 2.13% of their stock held short by three and two investment firms, respectively.
Saipem has taken the top spot as Italy’s most shorted stock, signalling that investors expect further price declines. Moving down the table, there are some familiar stocks in the top 10 most shorted, with some of the largest hedge funds and asset managers poised to profit from their falling share prices.
Shorting has long been a powerful tool in the arsenal of institutional investors, but we have seen a rise in Italian retail traders using short ETPs like ours to navigate bearish markets. While some retreat to the sidelines, sophisticated investors see opportunity to increase their exposure and potential returns through leverage, and hedge against long positions.
GraniteShares continued its expansion in Italy last year with the launch of its first suite of 5X and 3X Leveraged ETPs on the FTSE MIB Index, providing investors with access, in euros and on the Italian Stock exchange, to four ETPs offering long and short daily leveraged exposures to the major Italian index.
The table shows the largest ten short positions in companies that are listed and trading on Borsa Italiana.
|
Company |
Percentage of stock held short | Number of funds shorting the stock |
| Petrofac LTD | 9.93% | 6 |
| Ocado Group PLC | 6.86% | 6 |
|
Diversified Energy Company PLC |
6.57% | 7 |
| ASOS PLC | 5.71% | 7 |
| Kingfisher PLC | 5.49% | 5 |
| Abrdn PLC | 5.10% | 5 |
|
Alphawave IP Group PLC |
4.29% | 5 |
| Boohoo Group | 4.32% | 4 |
|
Burberry Group PLC |
3.83% | 3 |
| Barratt Developments PLC | 3.67% | 5 |
Source: Commissione Nazionale per le Società e la Borsa (CONSOB) on July 1, 2024
The analysis shows Capital Fund Management SA held the highest number of short positions on Italian listed companies of any investment firms, with five active shorts. This was followed by Marshall Wace LLP and Citadel Advisors LLC, which held four active shorts each.
The table shows the 10 fund managers with the highest number of short positions on companies that are listed and trading on Borsa Italiana.
|
Fund Manager |
Number of short positions |
|
GLG Partners LP |
42 |
|
Marshall Wace LLP |
31 |
|
Qube Research & Technologies Limited |
18 |
| JPMorgan Asset Management (UK) Ltd | 14 |
| BlackRock Investment Management (UK) Limited | 13 |
| ActusRayPartners Limited | 10 |
| Citadel Advisors LLC | 9 |
| Arrowstreet Capital, Limited Partnership | 8 |
|
AQR Capital Management, LLC |
6 |
| Canada Pension Plan Investment Board | 6 |
Source: Commissione Nazionale per le Società e la Borsa (CONSOB) on July 1, 2024
GraniteShares continued its expansion in Italy last year with the launch of its first suite of 5X and 3X Leveraged ETPs on the FTSE MIB Index, providing investors with access, in euros and on the Italian Stock exchange, to four ETPs offering long and short daily leveraged exposures to the major Italian index.
We offer a range of exchange traded products (ETPs) listed on national exchanges in the UK, France, Italy, and Germany. They consist of a suite of index ETPs tracking FAANG stocks and a suite of Short and Leveraged Single Stock Daily ETPs tracking some of the most popular companies in UK, US and European markets.
Our FAANG, GAFAM and FATANG product suite offers long, short and 3X leveraged ETFs on FAANG, GAFAM and FATANG indices and can be traded in a single ticker symbol via ordinary brokerage accounts. ETPs offer a pure way to gain exposure to top tech companies in the U.S. market. Indices are equally weighted and rebalanced quarterly.
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