The Short Report

Weekly Reports | Mar 21 2019

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 March 14, 2019

Last week saw the ASX200 come tumbling down from a failed attempt to revisit recent highs, an attempt that was driven by the euphoria of the RBA dropping its “next move in rates likely up” mantra. Never mind the reasons behind the change.

In the week before it had appeared shorters had taken a bit of post-result season break but last week it was back to business, as a sea of red in the table below might suggest.

Most of the moves were only small, representing bracket creep, with a couple of exceptions.

If any stock has a Gold Pass to the elite 10%-plus shorted club it's JB Hi-Fi ((JBH)), which but for a couple of brief holidays has lived at the club for over a decade. The fact the stock has risen 770% since March 2009 highlights the fact the shorters have continued to flog a dead horse over that time, but this never seems to deter them.

JB Hi-Fi shorts rose to 15.4% last week from 13.2%, most likely, in today’s thinking, on a “short bricks & mortar” play. Will JB shorters ever see their chooks come home to roost?

Other short positions moves of one percentage point or more were noted last week for NextDC ((NXT)) and CSR ((CSR)). See below.

Weekly short positions as a percentage of market cap:

10%+
SYR    17.4
ING     17.2
GXY   16.3
JBH     15.4
NXT    12.8
ORE    12.4
BWX   11.5
MTS    11.3
SDA    10.7
MYR   10.7
BAL    10.1


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