European Short Observer April 2017

Using the daily filings from the European Short Disclosure Regulation (ESMA), we track over thirty billion Euros in short investments across more than two hundred managers. The charts show changes in sector exposures and the best short picks from the past month. Also ranked are the most shorted securities, the most covered securities, and the top new shorts of the month.

In April we saw the biggest increase in aggregate shorted value in Materials. The best short of the month was once again Abengoa–the position is no longer disclosed by any manager at the end of the month. Among the best shorts, the most crowded is Banco Popular Espanol, shorted by eight managers with an aggregate short exposure of around two hundred million Euros.