Enagás shares consolidate as hedge funds increase short positions

Enagás shares have entered a period of consolidation on the stock market during August, trading within a narrow range between 16.67 and 17.02 euros. This stability follows a significant 28.4% appreciation throughout the year, though the stock is currently facing resistance at the 17-euro mark.

Despite meeting market expectations with a first-half recurring net profit of 118.6 million euros, hedge funds are increasing short positions. Wellington Management has opened a 0.52% short position, while ExodusPoint has expanded its short stake to 0.81%. Total short positions have risen above 5%, signaling renewed bearish activity from institutional investors.