ASX short sellers unwind $1b in shorts as hedge funds pile out of lithium, nickel and into CBA and BHP (copyright link)ASX caught in billion-dollar short squeeze as hedge funds shuffle bets
Joshua PeachMarkets reporterMar 7, 2024 – 1.52pmListen to this article6 minHedge funds exited just shy of $1 billion in short positions in the final days of February as speculators closed out bets against beaten-up lithium and nickel stocks.
Instead, they shifted their short positions to some of the largest names on the ASX, including Commonwealth Bank and iron ore majors Rio Tinto and BHP Group.
Hedge funds covered some $970 million in shorted shares in the final week of February. Christopher Pearce
Nickel to be placed on critical minerals list, giving WA miners access to $4 billion fund, page-40
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