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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:
Tassal Group Limited(ASX: TGR) is now the most shorted share after its short interest rose slightly to 9.9%. This seafood company has been targeted by short sellers due to weak salmon prices and concerns over the Australia-China trade war.
Investegate |Resolute Mining Ltd Announcements | Resolute Mining Ltd: Notice of Annual General Meeting
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These were the best performing ASX 200 shares last week
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ASX 200 up 0.6%: Zip rises, Resolute rockets, tech shares storm higher
James Mickleboro | April 14, 2021 12:07pm |
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At lunch on Wednesday the
S&P/ASX 200 Index (ASX: XJO) is on form and has broken through the 7,000 points mark. The benchmark index is currently up 0.6% to 7,019.4 points.
Here’s what is happening on the market today:
Brokers love Zip update
Zip Co Ltd(ASX: Z1P) on Tuesday has gone down well with brokers today. One of the most positive brokers was Citi. This morning its analysts upgraded the buy now pay later provider’s shares to a buy rating with a price target of $11.30. Elsewhere, Morgans has an add rating and $10.92 price target and Ord Minnett has an accumulate rating and $11.50 price target. This compares to the current Zip share price of $9.88.