US activist hedge fund Saba Capital, which has been at the eye of the ongoing investment trust storm, has taken out a flurry of short positions on several UK stocks in February, adding banknote printer De La Rue to the list last Friday (14 February).
According to the Financial Conduct Authority's daily short disclosures, Saba took out a 0.78% short position on De La Rue. De La Rue is not new to encounters with activist investors, as activist investment fund Crystal Amber wrote to the board of the De La Rue's board in March 2023 to request its chair to be removed. Saba Capital launches next round of trust activism targeting transitions to open-ended structure After sustained pressure from the company's third largest shareholder, chair Kevin Loosemore subsequently resigned a couple of weeks later, leading to a delay in De La Rue...
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