International energy service company Petrofac was the most shorted UK listed company as of 1 September, with 8.69% of its stocks held short by five investment firms, according to new analysis by ETP issuer GraniteShares.

Astaris Capital Management LLP held the largest Petrofac short position at 2.51%.

Diversified Energy Company was the second most shorted company with 7.84% of its stocks held short by eight fund managers, followed by Ocado Group and Burberry Group with 6.18% and 6.06% of the retailers’ stock held short by five and four fund managers, respectively.

The analysis also revealed GLG Partners LP held the highest number of short positions on UK listed companies of any investment firms, with 40 active shorts, followed by Marshall Wace LLP, which held 32 active short positions.

Will Rhind, Founder and CEO of GraniteShares, said: “Energy and retail firms are seen as areas where share price weakness is creating the chance for investors to bet against firms with Petrofac the most shorted stock in the UK along with Ocado, Burberry and Kingfisher.”