The Invesco Solar ETF, a widely tracked exchange-traded fund packed with solar stocks, is up more than 18% since April 2.
Photographer: Zed Jameson/BloombergHedge Funds Flip on Green Energy and Start Betting Against Oil
Portfolio managers have been reversing strategies that have dominated over the past four years.
Hedge funds are betting against oil stocks and winding back shorts on solar in a reversal of positions that dominated their energy strategies over the past four years.
Since the beginning of October and through the second quarter, equity-focused hedge funds have — on average — been mostly short oil stocks, according to a Bloomberg Green analysis of positions on companies in global indexes for sectors spanning oil, wind, solar and electric vehicles. That’s a reversal of bets that had dominated since 2021, according to the data, which are based on fund disclosures to Hazeltree, an alternative-investment data specialist.