The Short Report

Weekly Reports | Apr 20 2017

Guide:

The Short Report draws upon data provided by the Australian Securities & Investment Commission (ASIC) to highlight significant weekly moves in short positions registered on stocks listed on the Australian Securities Exchange (ASX). Short positions in exchange-traded funds (ETF) and non-ordinary shares are not included. Short positions below 5% are not included in the table below but may be noted in the accompanying text if deemed significant.

Please take note of the Important Information provided at the end of this report. Percentage amounts in this report refer to percentage of ordinary shares on issue.

Stock codes highlighted in green have seen their short positions reduce in the week by an amount sufficient to move them into a lower percentage bracket. Stocks highlighted in red have seen their short positions increase in the week by an amount sufficient to move them into a higher percentage bracket. Moves in excess of one percentage point or more are discussed in the Movers & Shakers report below.


Summary:

Week ending April 13, 2017

Last week saw the ASX200 kiss 5900, meet resistance, and then begin to plummet back to 5800 this week on telco upheaval and commodity price falls.

It was the week leading into Easter and school holidays in the major states, which may explain why movements in short positions ground to a near halt. As this Report covers Friday to Thursday, next week’s Report will feature only three day’s trading. The following week brings Anzac Day as the school holidays wrap up. It might be a slow period in Short Land.

We have been following the gradual slide of contractor WorleyParsons ((WOR)) down the table over past months from a once seemingly permanent position in the 10% plus club. The rebounding oil price started the move, but takeover speculation, thanks to a 19.9% stake taken by Dar Group, ensured Worley slipped out of the 5% table altogether the week before last.

Worley is back at 11.2% shorted. I’m suspicious. We’ll need to see next week’s data to confirm whether this is just another ASIC blip.

Speaking of stocks that once called the 10% plus club home, I noted in last week’s Report that JB Hi-Fi ((JBH)) had reappeared at the bottom of the table. JB shorts increased last week to 6.4% from 5.2%.


Weekly short positions as a percentage of market cap:

10%+

ORE    20.9
WSA   16.3
ACX   15.9
SYR    15.8
MYR   13.0
QIN     12.1
VOC   11.3
QIN     11.6
WOR   11.2
NEC    10.9
DMP   10.8
IGO     10.1
MYX   10.1


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