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BlackRock, Citadel rush to cover shorts as Ukraine conflict sends defence stocks soaring
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fnlondon.comHedge funds including BlackRock and Citadel are scrambling to cover their short positions on defence stocks, as Russia's surprise invasion of Ukraine sent those shares soaring.
Breakout Point, a data analytics firm, found that BlackRock held a short position of about 0.6% of shares of British defence giant BAE Systems — one of the main contractors of the F-35 fighter — as of 27 January. The firm then reduced its short position to 0.39% on 28 February.
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