Over the past week of ASIC short position data to 12 October, short sellers built their largest new positions in Genesis Minerals (GMD, up 2.38 percentage points to 8.76% of shares on issue), Beach Energy (BPT, up 1.87pp to 7.96%) and Boss Energy (BOE, up 1.59pp to 15.11%). Rising short interest signals growing bearish conviction against a stock among hedge funds and institutional investors.
On the other side of the ledger, shorts covered most heavily in Elevra Lithium (ELV, down 0.56 percentage points to 6.55% of shares on issue), Lendlease Group (LLC, down 0.40pp to 8.94%) and 4Dmedical (4DX, down 0.37pp to 10.72%). Falling short interest can mean the bear case has played out — or that short sellers are locking in profits and reducing exposure.
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