According to our data, short sellers have dramatically increased their positions in Babcock & Brown (BNB) in the last month. The % Market Cap on Loan (%MCOL) of the investment adivsory company rose from 6% on January 1st to 12% earlier this week. It has now decreased slightly down to 10.6% today. The company's share price started to go down significantly at the beginning of this month, from 26AUD to 15AUD earlier this week, but it has risen slightly to 18AUD today.
Utilisation rose up to 80% between January 1st and earlier this week, and it has now dipped down to 60%, although this figure is still reasonably high. For those wishing to return shares, there are 6.43 Days to Cover. The rest of the ASX50 has a Utilisation of 21% on average, and the Australia Diversified Financials sector has an average Utilisation percentage of 55%, which is closer to BNB's.
In the ASX Small Caps, the borrow has risen significantly in SEEK (SEK). The advertising company's %MCOL has risen from 5.5% on January 16th to 9.5% today. It has so far shown no signs of ebbing off. Utilisation rose from 50% on January 16th to 72% latest. SEEK's share price has dropped from 8.75AUD on January 16th down to 6AUD earlier this week, and back up to 6AUD today.
The volume of the shares traded was also well above the average around January 16th at 3.7M compared to the average of 1.5M. There are 14.18 Days to Cover.
The average Utilisation for the ASX Small Cap is 27%, and the sector, the Australia Commercial Services and Supplies' Utilisation stands at 17%, so SEK's is significantly higher than both.