Here are the 10 most shorted ASX shares

At the start of each week, I like to look at ASIC’s short position report to find out which shares are being targeted by short sellers.

This is because I believe it is well worth keeping a close eye on short interest levels as high levels can sometimes be a sign that something isn’t quite right with a company.

With that in mind, here are the 10 most shorted shares on the ASX this week according to ASIC:

• Betmakers Technology Group Ltd (ASX: BET) remains the most shorted share on the Australian share market after its short interest rose to 15.9%. This betting technology company’s shares are down almost 70% this year.
• Flight Centre Travel Group Ltd (ASX: FLT) has seen its short interest ease to 14.5%. Short sellers will have been pleased to see this travel agent giant’s shares tumble on Monday following a softer than expected trading update.
• Block Inc (ASX: SQ2) has seen its short interest rise to 12.4%. Short sellers continue to build their positions despite the payments company’s shares rising 25% in a month.
• Megaport Ltd (ASX: MP1) has seen its short interest rise to 11.9%. Short sellers appear to be increasing their positions after a softer than expected first quarter update from the network as a service provider.
• Domino’s Pizza Enterprises Ltd (ASX: DMP) has seen its short interest rise to 11.7%. This pizza chain operator’s shares have fallen heavily this year after inflationary pressures weighed on its performance.
• Perpetual Limited (ASX: PPT) has seen its short interest ease to 11%. Short sellers will have been disappointed to see this fund manager’s shares charge higher this month after receiving a takeover offer.
• Breville Group Ltd (ASX: BRG) has seen its short interest rise to 9.1%. Unfortunately for short sellers, this appliance manufacturer’s shares jumped last week after a solid first quarter update.
• Temple & Webster Group Ltd (ASX: TPW) has short interest of 9.1%, which is up strongly week on week. Valuation concerns and an ecommerce slowdown may be behind this high level of short interest.
• Nanosonics Ltd (ASX: NAN) has short interest of 8.7%, which is up week on week again. Concerns over this infection prevention company’s business model change in the key US market have been weighing on sentiment.
• Sayona Mining Ltd (ASX: SYA) has seen its short interest fall to 8.6%. Short sellers may be targeting this lithium developer due to valuation and funding concerns.

The post Here are the 10 most shorted ASX shares appeared first on The Motley Fool Australia.

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Motley Fool contributor James Mickleboro has positions in Dominos Pizza Enterprises Limited. The Motley Fool Australia’s parent company Motley Fool Holdings Inc. has positions in and has recommended Betmakers Technology Group Ltd, Block, Inc., MEGAPORT FPO, Nanosonics Limited, and Temple & Webster Group Ltd. The Motley Fool Australia has positions in and has recommended Block, Inc. and Nanosonics Limited. The Motley Fool Australia has recommended Betmakers Technology Group Ltd, Dominos Pizza Enterprises Limited, Flight Centre Travel Group Limited, MEGAPORT FPO, and Temple & Webster Group Ltd. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.

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