Hedge fund bets big against Flutter

Israel “Izzy” Englander seems to grow more and more certain every week that Flutter ’s share price is about to drop in value if the Central Bank’s register of short interest is anything to go by.

Millennium’s name began appearing alongside Flutter’s in the Central Bank’s short bet database in late April when the fund showed up as having a bet against roughly 0.50 per cent of the company’s shares. A short trade is a risky bet in which a trader borrows shares from a broker, sells them on the market, and then waits for the share price to fall. If the price falls they can use the money to buy the now cheaper shares and pocket the difference.

Of course, it’s not always possible to discern a hedge fund’s full strategy by way of a single regulatory disclosure. It may be that the bet is part of some wider strategy that the trader is not inclined to explain or publicise.

Source: News Formal (newsformal.com)

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