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Bankinter is fired a truce of short positions that just has lasted for 32 days. The ‘hedge fund’ AQR Capital Management takes over Citadel Europe on attack, bass player at the Spanish bank in the year to lose 32%, but manages to recover a 46% from its lows of last march.
The onslaught bassist AQR Capital reaches 0.5% of the share capital of Bankinter, which results in a bet of slightly more than € 20 million against its evolution on the stock exchange, on the basis of prices that currently mark the entity in the closet.
This short position will be released this Tuesday, although it has been submitted now to the Commission National of the Market of Values (CNMV).
The records of the supervisor of the Spanish stock market are those who leave a record of that this is the first time that the hedge fund founded by Cliff Asness bet against Bankinter. And it does so with the minimum to be considered a bassist of relevance, which has forced the firm to reveal its investment bearish to the market as a whole.
With this bet, Bankinter still stalked by the shorts after nearly four years free of bassists of relevance in your capital. And is that from November 2016 no investor had exceeded the aforementioned threshold of 0.5% in a position bearish on the entity that commands Maria Dolores Dancausa.
Four years of truce
The peace broke at the end of June, Citadel Europe. The hedge fund founded by the magnate florida Kenneth C. Griffin it was discovered then as an owner of a a 0.52% of the shares of the Spanish bank bet against its stock market performance. Barely a week later, on the 3rd of July, informed the CNMV that its weight had loosened up to the 0.47 per cent. Since then, another back and forth more in the list of short films of relevance.
Before this return, the last bassist with a well-known name in the capital of Bankinter had been Arrowstreet Capitalthat kept his bet against the entity between June and November of 2016. Yes, with small alterations between a minimum of 0.51% and a maximum of 0.7% of the share capital of the bank.
In their accounts for the first half of the year, Bankinter announced a net profit 109.1 million euros, 64.7% less than a year ago. The balance sheet of the financial institution was marked by the impact of the coronavirus, which has led to its direction of establish extraordinary provisions for 192,5 million euros.