Hedge funds up short positions against Woodford Patient Capital

Share price hit

David Brenchley
clock • 1 min read

Woodford Patient Capital (WPCT) is currently the most shorted investment trust in the FTSE 350, after hedge funds upped their bets against the closed-end vehicle run by beleaguered stockpicker Neil Woodford.

With faith in the fund manager having taken a hit since the open-ended Equity Income was suspended last week, WPCT's share price has plummeted, touching 59p on Monday. Having closed at 76.5p this time last week, the stock is down 23% in the past seven days. Its discount has widened to 28%. Woodford Equity Income: How we got here Short positions against the trust have now risen to 4.4% of the stock, up from 2% at the start of March, the FT noted via data provider HIS Markit. New York-based Leucadia Asset Management and Swiss bank Lombard Odier have taken the largest positions against W...

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