Hedge funds up short positions against Woodford Patient Capital

Share price hit

Woodford Patient Capital (WPCT) is currently the most shorted investment trust in the FTSE 350, after hedge funds upped their bets against the closed-end vehicle run by beleaguered stockpicker Neil Woodford.

With faith in the fund manager having taken a hit since the open-ended Equity Income was suspended last week, WPCT's share price has plummeted, touching 59p on Monday. Having closed at 76.5p this time last week, the stock is down 23% in the past seven days. Its discount has widened to 28%. Woodford Equity Income: How we got here Short positions against the trust have now risen to 4.4% of the stock, up from 2% at the start of March, the FT noted via data provider HIS Markit. New York-based Leucadia Asset Management and Swiss bank Lombard Odier have taken the largest positions against W...