Tuesday October 27, 2020

US short traders undermine Bank of Ireland stock

Two US hedge funds have scooped up 1.2 per cent of the bank’s shares at a value of €22 million

Barry J Whyte

Chief Feature Writer

21st September, 2020

Two major American hedge funds are now betting against Bank of Ireland’s share price after a fund run by Ken Griffin, the billionaire trader, recently shorted the stock.

Citadel, the European arm of Griffin’s hedge fund, built up a roughly €11 million bet last week that shares in the Irish bank would fall in value in the near term, according to Central Bank figures.

Griffin’s short trade follows another bet of...

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