Commodities dominate top short positions in 2015
15 December 2015 London
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Commodities companies made up 11 of the top 20 best-timed short positions in 2015, according to Markit.
Magnum Hunter Resources led the pack among the commodities shorts, with shares now trading 98 percent lower than at the start of January, when short sellers first started to add to their positions in earnest, according to Markit data.
Penn Virginia, Long Run Exploration and Linnco are also among the energy providers that saw share falls by more than 90 percent in the wake of coming under renewed target from short sellers.
Gold developer Rubicon Minerals, which came to short sellers’ attention in March, provided the most successful non-energy commodities short after its shares fell by 88 percent following a fresh annual high in short interest.
Despite taking up just over half the top 20 list, it was not a commodity business that was crowned the most successful individual position.
This accolade went to now bankrupt clothing company Quicksilver, which saw a fresh 52-week high in short interest.
Its shares went on to lose all their value in the wake of its September chapter 11 filing.
The 1,117 US firms across the 3,000 most borrowed names at the start of the year, which saw a fresh new annual high in shorting activity (over a 3 percent shares outstanding threshold), subsequently saw their shares fall some 15 percent by December.
Magnum Hunter Resources led the pack among the commodities shorts, with shares now trading 98 percent lower than at the start of January, when short sellers first started to add to their positions in earnest, according to Markit data.
Penn Virginia, Long Run Exploration and Linnco are also among the energy providers that saw share falls by more than 90 percent in the wake of coming under renewed target from short sellers.
Gold developer Rubicon Minerals, which came to short sellers’ attention in March, provided the most successful non-energy commodities short after its shares fell by 88 percent following a fresh annual high in short interest.
Despite taking up just over half the top 20 list, it was not a commodity business that was crowned the most successful individual position.
This accolade went to now bankrupt clothing company Quicksilver, which saw a fresh 52-week high in short interest.
Its shares went on to lose all their value in the wake of its September chapter 11 filing.
The 1,117 US firms across the 3,000 most borrowed names at the start of the year, which saw a fresh new annual high in shorting activity (over a 3 percent shares outstanding threshold), subsequently saw their shares fall some 15 percent by December.
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