Mar
10
Hedge Funds Cut Bets Against Glencore as Commodity Prices Steady
ByHedge funds have pared bets against Glencore Plc as the Swiss mining and trading giant’s shares recover from a 70 percent rout last year and commodity prices recover.
Passport Capital, a $4.4 billion hedge fund in San Francisco, cut its short position by 11.5 million shares to 0.47 percent of stock outstanding on March 4, according to filings. Viking Global Investors, Discovery Capital Management, Key Group Holdings and Steadfast Capital Management have also reduced bets against the company since the start of February. Short interest now accounts for 6.9 percent of the company’s stock, compared with 8.5 percent on Feb. 4, according to Markit Ltd…
Hedge Funds Cut Bets Against Glencore as Commodity Prices Steady
