Hedge Funds Crowd In To Short Elekta & Oriflame In Sweden

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Hedge Funds Crowd In To Short Elekta & Oriflame In Sweden
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Elekta AB (STO:EKTA-B), the Sweden based modern medical technology company, has been getting a lot of attention from short sellers around the world. So far twelve firms, mostly hedge funds, have disclosed a short in Elekta AB (STO:EKTA-B) to Swedish Financial Supervisory Authority, Finansinspektionen. To know all the firms that hold a short position in Elekta, visit our page with the most updated information about European Short Positions.

Hedge Funds Crowd In To Short Elekta & Oriflame In Sweden

Morton Holdings just covered their entire position in the company of 2.49 percent on Feb 6. At the same time, a firm named ZBI Equities disclosed a new position with exactly the same number of shares in Elekta AB (STO:EKTA-B). Other holders with a negative bet in Elekta AB (STO:EKTA-B) include David Einhorn’s Greenlight Capital with a 2.26 percent position, Lansdowne Partners with 0.74 percent, Cadian Capital with 3.08 percent. As we reported earlier, Maverick Capital covered their short in Elekta a while ago. The net short interest disclosed so far amounts to 12.2 percent of Elekta’s shares outstanding. From Nov 11 2012 to date, Elekta has gained 7 percent in the Stockholm exchange. The company is set to launch a new radiation technology for cancer treatment in the next month that will supposedly revolutionize the future of cancer care.

Elekta is not the only stock that has attracted a string of shorts, another frequently shorted stock is SSAB AB (STO:SSAB-A) (STO:SSAB-B), a company involved in steel industry. However, most of the short sellers have reduced their positions to below 0.5%.  Presently Jim Chanos of Kynikos Associates holds the largest short bet of 2.4 percent with the company. Oriflame Cosmetics SA (STO:ORI-SDB) and JM AB (STO:JM) are also shorting favorites in Sweden. Kynikos Associates and D.E Shaw Group hold a position in JM AB (STO:JM). Oriflame Cosmetics SA (STO:ORI-SDB) is up 22 percent since November 2012 while  JM AB (STO:JM) is up 24 percent since that time. Total short interest in Oriflame Cosmetics SA (STO:ORI-SDB) is now upto 7 percent.

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In recent disclosures, Marshall Wace initiated a new short position of 0.5 percent in Securitas AB (STO:SECU-B). AKO Capital disclosed a short position of 1.5 percent in SAS AB (STO:SAS), a Swedish airline company. Lansdowne Partners revealed a short of 0.5 percent in H & M Hennes & Mauritz AB (STO:HM-B). York Capital holds a unique short position of 0.4 percent in Ratos AB (STO:RATO-A) (STO:RATO-B).

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