Bloomberg – Hedge funds have added short positions in TUI AG in the past month, after the owner of Europe’s largest tour operator rose to its highest price in more than five years, as investors wait for a turnaround program initiated by its chief executive officer to boost earnings.
London-based hedge fund CQS UK LLP is shorting 5.61 million shares, or 2.22 percent of TUI’s outstanding stock, according to a Feb. 13 filing. That’s the most recent short position, data compiled by Bloomberg show. Pine River Capital Management indicated in a Jan. 30 filing that it is shorting 1.97 million shares. Those represent about 41 percent of the declared outstanding short positions as of today.