The Short Report – 12 Sep 2019

Weekly Reports | Sep 12 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 September 5, 2019

Back to normal programming this week, after the ASIC debacle of the prior two.

Last week saw the ASX200 run up very hard to end a volatile August and then fall back down again for the start of the new month.

Only a handful of reds and greens for last week, which is more typical, but there were three stocks which enjoyed short position falls of one percentage point or more and yes, all can be explained.

In a tale of two earnings result responses, we saw Inghams Group ((ING)) shorts fall to 15.0% from 17.3% and Bega Cheese ((BGA)) shorts fall to 9.3% from 10.6%. Those responses were nevertheless in contrast. See below.

Western Areas ((WSA)) shorts fell to 5.7% from 7.2%. Bit of a no brainer. See below.

A special nod this week to a newbie at the bottom of the table, although if memory serves I believe we have seen it there before – Fortescue Metals ((FMG)).

Weekly short positions as a percentage of market cap:

10%+
NUF    18.6
GXY   16.7
ORE    16.4
ING     15.0
BAL    14.8
SYR    14.5
NXT    14.5
JBH     13.0
HUB   11.4
GWA  11.1
BWX   11.0
DMP   10.4


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