Short Interest Grows in Alcatel Lucent SA (ALU)

European short positions disclosed by hedge fund managers outperformed an equivalent short on the general markets, generating solid alpha in June, according to the monthly Novus European Observer.  Stanley Altshuller, co-founder and chief research officer at Novus, called this “ridiculous alpha,” as the hedge fund shorts outperformed the general market for the fifth month in a row.

Short positions in Banca Monte dei Paschi

One profitable position included Banca Monte dei Paschi di Siena SpA (BIT:BMPS) that was held short by five managers as the share price collapsed on news of a rights offering at a massive discount. Among the beneficiaries...