The Short Report

Weekly Reports | Sep 14 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 September 7, 2017

Last week was another in which the ASX200 chopped around a lot but never got very far from 5700.

I flagged in last week’s Report that Bapcor’s ((BAP)) jump in shorts to 9.7% from 6.9% looked suspiciously like an ASIC data blip. It was. Bapcor shorts are now back at 5.8%.

Of all the red and green moves below, only three represent changes of one percentage point or more. One is Western Areas ((WSA)), down to 15.9% from 17.1%. Another is Orecobre ((ORE)), down to 17.3% from 18.6%.

I usually don’t bother highlighting 1ppt moves in the shorts of nickel and lithium/graphite miners given (a) their short positions are so big, 1ppt is small in percentage terms and (b), their share prices are highly volatile, reflecting the volatility of underlying commodity prices.

The song remains the same for nickel, as the spot price had another week of wild gyrations, but this time it’s worth looking into the battery-related stocks (see below).

The other stock is Navitas ((NVT)), which last week jumped from under 5% shorted to 6.0%. The education company last week announced a joint venture with Swansea University in Wales, and the share price enjoyed a pop.


Weekly short positions as a percentage of market cap:

10%+

SYR    19.7
ORE    17.3
WSA   15.9
MYR   15.4
IGO     14.5
SHV    13.2
JBH     12.8
RFG    12.6
DMP   12.4
AAD   11.8
ACX   11.7
GXY   11.3
HVN   10.7
MYX   10.5
MTS    10.5


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