Abrdn PLC (LSE:ABDN) has been targeted by two new short sellers after the fund manager dropped out of the FTSE 100 following a period of fund outflows and amid efforts to boost its investment strategy.
The Edinburgh-based asset manager, formed from the 2017 merger of Aberdeen AM and Standard Life, last reported net outflows of £4.4 billion in the first half of the year leading to a 1% decline in assets under management.
One of the new short sellers announced this week was AHL Partners, a systematic quant fund run by Man Group, with a 0.50% net short position, adding to long-running short from Man's GLG Partners (NYSE:GLG).
The other was Samlyn Capital, a New York-based hedge fund, where a short position of 0.62% was reported.
Abrdn ranked as the UK's fourth-most shorted stock as of September, according to S&P Global Market Intelligence, with 9.18% of its shares on loan.
On the short tracker website, ASOS PLC, with 7.7% short interest, and Boohoo Group, at 6.2% were the most shorted.
Metro Bank Holdings PLC (LSE:MTRO), which today saw its shares tumble on reports of a fundraising, was in third place and Hargreaves Lansdown PLC (LSE:HL.) in fourth.