Most shorted companies revealed: Petrofac takes top spot
Petrofac, the oil and gas exploration firm was the most shorted stock in the UK as of 5th February according to new data.
The firm’s stock price has slumped 64.8 per cent over the last year, but 11.5 per cent of its stock was still held short as of last week, according to data from GraniteShares.
Seven investment firms held short positions in Petrofac, with Helikon Investments Limited holding the largest position at 3.5 per cent.
Among other shorted stocks, B&Q owner Kingfisher came in second, with 6.8 per cent of stock held short, while Hargreaves Lansdown came third with 6.1 per cent.
The analysis also revealed that GLG Partners held the highest number of short positions for UK companies of any investment firm, currently holding 47 active shorts.
This was followed by Marshall Wace and BlackRock, which held 29 and 16 active shorts respectively.
| Company | Percentage of stock held short | Number of funds shorting |
| Petrofac | 11.5 | 7 |
| Kingfisher | 6.8 | 7 |
| Hargreaves Lansdown | 6.1 | 7 |
| ASOS | 5.8 | 6 |
| Boohoo | 5.4 | 6 |
| Abrdn | 5 | 5 |
| Burberry | 4.7 | 6 |
| ITM Power | 3.2 | 2 |
| Sainsbury’s | 3.1 | 2 |
| 888 Holdings | 3.1 | 5 |
Will Rhind, Founder and CEO of GraniteShares, said: “The UK’s prolonged period of economic stagnation is fuelling short exposures, with our analysis highlighting investors’ concerns regarding a wide range of companies.
“As we enter an election year, the UK is facing heightened market volatility amid uncertain macroeconomic conditions, which we anticipate with drive further interest in shorting beyond the large institutions.”