Lets take a look at how hedge funds have been moving in their short positions in Spain. For the entire list of current shorts positions in Spanish equities, visit Hedge Funds Short Positions In Europe.
Spanish Banking Sector
As we noted in an earlier post, there are not very concentrated short positions in Spanish banks as there are in Italian banks. Hedge funds covered their bets to below 0.5 percent in Banco Popular Espanol SA (MCE:POP), these include Discovery Capital, Wellington Management and GLG Partners.
Investment strategies used by hedge funds have evolved over the years, although the biggest changes have come in the use of computers to develop portfolios. Rosetta Analytics is a woman-founded and woman-led CTA that's pioneering the use of artificial intelligence and deep reinforcement learning to build and manage alternative investment strategies for institutional and private Read More
The only new disclosure is the negative bet in 0.5 percent of Banco de Sabadell SA (MCE:SAB) (PINK:BNDSY) from Marshall Wace.
We are now sorting positions below 0.5 percent from all countries in our Historical Shorts Page. Since Spanish regulatory authority does not intimate the date when the position holder reduces the short to less than 0.5 percent, we are unable to include that information in Spain’s historical data.
Tecnicas Reunidas SA (MCE:TRE)
Short interest in Tecnicas Reunidas, Spanish industrial and engineering company, has spiked in the past weeks. Marshall Wace. Highbridge Capital and GLG Partners have placed new bets against Tecnicas Reunidas SA (MCE:TRE).
Favourite Spanish Short Positions
Indra Sistemas SA (MCE:IDR) (PINK:ISMAY), an IT solutions company is a favourite among Spanish equities and is currently a short position of eight hedge funds. The latest bets have been placed by BlackRock and Marshall Wace, while Eminence Capital and Columbus Circle had reduced their shorts to below 0.5 percent earlier in the year. The aggregate short in Indra Sistemas is now equal to 8 percent of the outstanding shares. Marshall Wace, Lansdowne Parntners, Adelphi Capital, Hoplite have increased their short in the past two months.
Bolsas Y Mercados Espaneoles Socdad Hldg (MCE:BME)(PINK:BOLYY) (FRA:M6O) is a short bet of three holders. All of them increased their position since our last update, aggregate bet is up from 2.46 percent to 3.57 percent of Bolsas Y Mercados Espaneoles Socdad’s shares.
Negative exposure in Gamesa Corporacion Tecnologica SA (MCE:GAM) (PINK:GCTAY) (PINK:GCTAF) was reduced in the past months, BlackRock, Alden Global and Marshall Wace have covered their shorts to below 0.5 percent. Currently only Oxford Asset Management has a short in 0.52 percent of Gamesa Corporacion Tecnologica.
Mediaset Espana Comunicacion SA (MCE:TL5) (PINK:GETVF), short position in Italy as well, saw reduction in short interest in Spain. Saemor Capital and Millenium Partners covered their positions. Highbridge Capital has a negative bet on 0.69 percent of Mediaset Espana Comunicacion.