KEY TAKEAWAYS
- Activist investor Elliott Investment Management has taken a short position against British oil giant Shell, according to data from the U.K. regulator.
- Data from the Financial Conduct Authority showed that Elliott had taken a 0.5% short against Shell on Tuesday.
- The Shell short position is part of Elliott’s global hedging program, a source familiar with the matter told Investopedia.
Activist investor Elliott Investment Management has taken a short position against British oil giant Shell (SHEL), according to data from the U.K. regulator.
Data from the Financial Conduct Authority showed that Elliott had taken a 0.5% short against Shell on Tuesday.
The Shell short position is part of Elliott’s global hedging program, a source familiar with the matter told Investopedia.
The move by Elliott in Shell was first reported by the U.K. newspaper The Times Thursday.
Elliott has reportedly amassed a stake in Shell rival BP (BP).
Shell earlier this week said that it is planning to grow its upstream and integrated gas business by 1% annually through 2030, a month after BP announced it would invest more in oil and gas in a pivot away from its low-carbon strategy.
Shell’s U.S.-listed shares are little changed Friday but have gained more than 8% in the past 12 months through Thursday.
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