The Short Report

Weekly Reports | Mar 08 2018


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.


Week ending March 1, 2018

Last week saw the recovery rally that began earlier in the month in the wake of the US inflation scare, at 5793, peak out at 6080 before Donald Trump dumped a bucket of cold water on proceedings. It was also the final week of the local reporting season.

There’s a little bit of movement in the short table below but only three moves represent one percentage point or more.

I highlighted toiletry/cosmetics company BWX ((BWX)) last week, which suffered a -20% share price fall following its result release, along with a short position increase to 6.3% from below 5% prior.

Last week BWX shorts increased to 7.6%.

Nanosonics ((NAN)) saw its shorts jump to 8.7% from 7.0%, while NextDC ((NXT)) dropped off the 55 plus table altogether, from 7.5% shorted the week before. See below.

We can also make another special mention of Myer ((MYR)), which having tanked the week earlier on yet another profit warnings, mysteriously bounced 16% on Monday for reasons no one could quite ascertain. There was no news from the company, nor from major stakeholder Premier Investments ((PMV)).

Nor is there anything on the ASX website. I was assuming a “speeding ticket” would be issued by the exchange – a “please explain” – but that appears not to be the case. Either way, we might safely assume the fact the stock is over 10% shorted that short-covering played its part in that 16% move.

Weekly short positions as a percentage of market cap:


SYR    22.0
IGO     16.9
DMP   16.1
JBH     15.9
RFG    13.8
HSO    13.7
GXY   13.1
HT1     12.3
VOC   12.0
MYX   11.2
FLT     10.6
MYR   10.2

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