The American fund BlackRock has reduced its short position in Telefónica to 0.56%, from the 0.62% reported on November 2, according to the records of the National Securities Market Commission (CNMV) and reported by Europa Press .

In this way, the North American fund lowers its bet on a fall in the price of the Spanish operator, which last Friday – the day BlackRock notified the reduction of its short position – closed the trading day with a fall of 0, 8%, up to 3,553 euros per title.

Telefónica’s price started 2024 at 3.628 euros (at the close of January 2) and since then its shares have depreciated 2.06% compared to the end of trading last Friday.

However, BlackRock owns a 4.98% stake in Telefónica’s share capital, which makes the North American fund one of the company’s main shareholders.

BlackRock’s short position in Telefónica is added to that of the Canadian pension fund Canada Pension Plan Investment Board (CCPIB), of 0.7% and which has been maintained since December 4, 2023.