Mixed Fund Short Interest
September short interest reports reveal sharply mixed changes across five selected investment funds.
Anonymous
Short-interest reports for five funds and investment companies showed sharply mixed changes in September. Short interest rose 102.3% for the Unlimited HFGM Global Macro ETF and 174.5% for the GGM Macro Alignment ETF, while it fell 77.4% for Australia’s GPT Group, 82.9% for the Global X Genomics & Biotechnology ETF and 87.7% for The New Germany Fund. The articles also noted institutional investment activity at HFGM, GNOM and The New Germany Fund; they provided no common market-wide explanation for the moves.
Key Points
1
HFGM had a short-interest ratio of just 0.1 days as of September 15, based on average trading volume of 35,030 shares; short sellers accounted for about 0.1% of its shares.
2
GGM had the highest short-interest ratio among the funds with reported trading-volume data: 3.3 days, with about 1.4% of shares sold short. The actively managed fund-of-funds seeks long-term capital appreciation by shifting among underlying ETFs to suit the prevailing macroeconomic environment.
3
Bank of America increased its GNOM stake by 67.8% in the first quarter to 119,795 shares, worth $5.24 million; institutional investors and hedge funds collectively owned 56.95% of the ETF.
4
The New Germany Fund’s largest listed institutional holder, Saba Capital Management, increased its first-quarter position by 17.4% to 2,595,140 shares, valued at $26.52 million. Bulldog Investors also raised its position, while Altium Capital Management disclosed a new stake.
5
GPT Group is an Australian property owner, manager and developer with office, retail and logistics assets across major Australian cities; it also manages property funds for institutional and other investors.
Sentiment
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