At the start of each week, I like to look at ASIC's short position report to find out which shares are being targeted by short sellers.
This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn't quite right with a company.
With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:
- Boss Energy Ltd (ASX: BOE) continues to be the most shorted ASX share with short interest of 21.7%. This is down week on week once again. Unfortunately for short sellers, uranium stocks jumped last week after US President Donald Trump signed an order to boost the industry.
- Paladin Energy Ltd (ASX: PDN) has seen its short interest rise week on week to 15.6%. It is another uranium miner that jumped last week on the Trump news.
- Mineral Resources Ltd (ASX: MIN) has short interest of 14.3%, which is up since last week. Weak commodity prices and a precarious balance sheet appear to be behind this.
- Liontown Resources Ltd (ASX: LTR) has short interest of 12.8%, which is up from last week. Short sellers have been loading up on Liontown's shares after lithium spot prices tumbled.
- IDP Education Ltd (ASX: IEL) has 12.7% of its shares held short, which is down week on week. This student placement and language testing company is struggling with very tough trading conditions.
- Pilbara Minerals Ltd (ASX: PLS) has seen its short interest rise again to 12.3%. This lithium miner's shares are also being targeted due to weak battery material prices.
- Deep Yellow Limited (ASX: DYL) has 11.6% of its shares held short, which is down week on week again. This is another another uranium stock that short sellers have been targeting.
- Polynovo Ltd (ASX: PNV) has 11% of its shares held short, which is up week on week. The market has been disappointed with this medical device company's growth this year.
- Cettire Ltd (ASX: CTT) has short interest of 10.7%, which is flat week on week. There are concerns that this online luxury products retailer could struggle with changes to de minimis tax rules in the US.
- Karoon Energy Ltd (ASX: KAR) has short interest of 10.1%. This seems to be due to concerns over oil and gas demand.
The post These are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.
Motley Fool contributor James Mickleboro has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has positions in and has recommended Idp Education and PolyNovo. The Motley Fool Australia has recommended PolyNovo. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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