Hedge fund shorts closing

Taken from news feed

Activist hedge fund Third Point is reducing the number of single-name short positions in its portfolio as the short-selling environment is “much more challenging” than it has been historically.

“While we have not abandoned short selling, we continue to reduce our single name short exposure in favor of market hedges and short baskets,” Third Point CEO and Chief Investment Officer Dan Loeb wrote in a Q2 letter to investors on Monday.