There’s nothing like a 12 per cent drop to get the bears out of hiding!
Hedge funds, having lost their shirts short-selling Australian shares for 18 months, have ramped up their bets against ASX-listed stocks, targeting everything from one-time technology darlings to over-bought lithium hopefuls and travel companies.Short bets as a portion of the Australian market’s cumulative free float has increased to 2.1 per cent, according to numbers from stockbroker UBS, up from 1.8 per cent at the start of the year and 1.
The shorts, combined with the market’s 12 per cent sell-off for the calendar year to date, sets up expectations that hedge funds and their long/short peers will largely outperform long-only rivals when numbers land for the financial year to June 30. The numbers should start rolling in next fortnight.
As it stands, the top shorted stocks as a percentage of shares on issue include Flight Centre , Betmakers , Nanosonics , EML Payments and Block , according to ASIC data. Institutional equities bosses reckon short-selling volumes will continue to increase throughout the rest of the year, as confidence rebuilds and in light of the wider market uncertainty.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Rental warning from IT guru who owns 12 Qld properties - realestate.com.auHe owns 12 rental properties in Queensland – most bought during Covid19 – and he's warned renters of more grim times ahead. And it’s not because of interest rates (via RealEstate_AU) property realestate
Read more »
Crypto consumer safeguards expected ‘within 12 months’Caroline Malcolm, head of international policy at cryptocurrency tracking and investigations firm Chainalysis, believes Australian regulators will roll over added layers of protections for consumers in the next year.
Read more »
Bathurst champ fumes at 'infuriating' liesFormer Bathurst champion Nick Percat didn't hold back in a radio interview about the return of the Adelaide 500. 9WWOS RepcoSC
Read more »
One-dayer decided in final ball-thrillerThe fourth one-dayer between Australia and Sri Lanka came down to the last ball of the 50th over!
Read more »
‘I think I would win’: Donald Trump takes aim at Ron DeSantisAs the Florida governor rises in the polls, Trump begins to disparage his former ally
Read more »
Letters of 23 June 2022 : 3.5pc pay rise too high for a fewWages, pay rise, RBA, Donald Trump, Dutton, emissions, science, nanoparticles, cryptocurrency, energy
Read more »