RE: Shorts5 Feb 2019 18:59
The Castellain data is the sum total of all declarations over .5% - So it includes the likes of Highbridge (2.32%) and JPM (.82%) both of whom were a part of ST1 so it can be speculated they are hedged positions for convertible bonds. Some of the others have only been involved since around the time we moved to the FTSE250 may well be trackers, and Marshall Wace of course have broad short position coverage across an array of companies that may well just be a part of an alpha generation quant strategy. Overall large net short positions (other than hedges) appear to be reducing a little, whereas, it seems to me that the smaller, undeclared positions (less than .5%) are up - perhaps primarily as a consequence of the Q4 progress update and ST2 news.
Cheers,
per ardua ad astra