Link Securities | British private equity fund Marshall Wace has increased its bearish bet on Telefónica (TEF) to 1.21% from 1.12%, according to Bolsamania.com.
Never before has Marshall Wace had such a large bearish position. According to the National Securities Market Commission (CNMV), the bearish fund first took a short position of 0.5% in April 2024, but has been increasing in recent weeks.
Marshall Wace’s entry coincides with the increase in CriteriaCaixa’s stake in the listed company, which now holds 9.99% of Telefónica’s capital. Within a month, Marshall Wace raised its position to the 0.9% it reported on 13 May and, since then, except for some slight fluctuations, it has not stopped rising. On 16 May, it raised its position to 1%, which was cut to 0.99% on 30 May before rising to 1.01% on 11 June, when Caixabank (CABK) sold its 2.54% stake in Telefónica.