Ferrovial, ACS, Indra and Ence. They are the four values of the Ibex harassed by the bearish investors After the National Stock Market Commission has lifted the ban on establishing short positions on the shares of the Spanish Stock Market (Sabadell It is the fifth value in which the bears have already taken positions, as published Bolsamanía last Friday).
The hedge funds who bet against Spanish securities are only obliged to declare their positions if they exceed 0.5% of the capital, so there are likely to be more bear investors in other stocks (especially in badly hit actions, such as Bankia). But, at the moment, only in Ferrovial, ACS, Indra and Ence have exceeded 0.5%.
RAILWAY: AQR CAPITAL
At Ferrovial, AQR Capital Management maintains a short position on the 0.49% of capital. It is not a new bet, since AQR already declared it in October of last year. Although it has been adjusting it every month, since last March it raised it to the 0.62% and now it has again lowered it to the mentioned 0.49%.
AQR is an investment fund founded in 1998 by former executives of Goldman Sachs like Clifford Asness, David Kabiller and John Liew. Currently, it manages assets valued at $ 50 billion.
ACS: MARSHALL WACE AND AKO CAPITAL
ACS is another of the companies where several hedge funds have adjusted their positions. Marshall Wace has a short film about 0.74% of the capital of the group chaired by Florentino Pérez, a position that has reduced slightly, since in mid-April, in the most important period of decline due to the Covid-19 crisis, he came to declare a short film about the 0.91%.
Marshall Wace is a London-based venture capital fund founded by Paul Marshall and Ian Wace and is considered one of the most aggressive downside investors on the Spanish Stock Market. Manages € 45 billion in assets.
For its part, AKO Capital maintains a bearish position on the 0.52% of ACS capital, a percentage that has risen from the 0.4% declared in March but below the 0.8% that it came to control in October of last year. This fund is smaller as it manages assets worth € 10 billion. One of its funds specializes in adopting long and short strategies on European stocks.
INDRA: AKO CAPITAL, FOSSE CAPITAL AND CANADA PENSION PLAN
The Indra technology group is also another of the bearish bets of AKO Capital, since the fund keeps a short on the 1.18%. A percentage that rose to 1.41% in February. In addition, the pension fund Canada Pension Plan Investment Board maintains a bearish position on 0.69% and Fosse Capital Partners another over 0.7%.
ENCE: MILLENUM, JPMORGAN, AHL PARTNERS …
Finally, the trash can is the value of the Ibex that more bearish positions above 0.5% of its capital accumulates. The British subsidiary of JPMorgan Asset Management keeps open a short over 1.36%.
Further, Millenium Capital, the hedge fund that also has in its sights Sabadell, recently raised its bet on Ence to 0.61% from 0.52%. By last, Connor, Clark & Lunn Investment Management maintains a bearish bet on 0.69% of capital and AHL Partners It is the largest short declared on the trash, with a bearish position of 1.39%.
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