Boaz Weinstein has begun betting heavily against several London-listed companies despite previously claiming to be a saviour for parts of the stock market.
The Wall Street tycoon’s hedge fund Saba Capital has taken out short positions against eight firms, effectively betting that their share prices will fall.
Disclosures on shorts issued by the watchdog, the Financial Conduct Authority (FCA), reveal that Saba has targeted troubled bank note printer De La Rue, Harry Potter publisher Bloomsbury and review website Trustpilot.
Weinstein is also betting against software firm Aptitude, electronics maker DiscoverIE, lighting group Luceco, consultancy outfit Next 15 , and power cable specialist Volex.
Firms must disclose any short position which goes above 0.5 per cent of a company’s shares.
Of the eight held by Saba, Bloomsbury is the largest with the US hedge fund having a 0.95 per cent holding.
Bets: Boaz Weinstein’s hedge fund Saba Capital has taken out short positions against eight firms, effectively betting that their share prices will fall
Weinstein’s shorting of UK shares stands in stark contrast to the hedge fund manager’s previous claims to be a ‘white knight’ for London’s investment trust sector.
His recent campaign to oust the boards of seven trusts was defeated by shareholders of the so-called ‘miserable seven’.
The Mail campaigned against his attacks to encourage investors to vote on the measures.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Saxo
Saxo
Get £200 back in trading fees
Trading 212
Trading 212
Free dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
This article was originally published by a www.dailymail.co.uk . Read the Original article here. .