Qube Research & Technologies, a London-based hedge fund, has taken a GBP 670M bet against HSBC shares, The Financial Times’ Costas Mourselas and Stephen Morris report. The position, which equates to 0.57% of HSBC’s market cap, was taken on Tuesday, according to data reported to the Financial Conduct Authority. The bet is one of the biggest ever taken against a big four UK bank, according to FCA data.
Confident Investing Starts Here:
- Quickly and easily unpack a company's performance with TipRanks' new KPI Data for smart investment decisions
- Receive undervalued, market resilient stocks straight to you inbox with TipRanks' Smart Value Newsletter
Published first on TheFly – the ultimate source for real-time, market-moving breaking financial news. Try Now>>
See the top stocks recommended by analysts >>
Read More on HSBC:
- HSBC partners with Metaco to launch digital assets custody, Bloomberg reports
- HSBC Holdings (HSBC) Discloses Q4 Dividend: What Shareholders Should Know
- HSBC launches blockchain platform to tokenize gold ownership, Bloomberg says
- HSBC price target lowered to 620 GBp from 650 GBp at UBS
- HSBC to initiate share buy-back of up to $3B