Hedge Funds Sell Off Winning Energy Stocks to Buy Soaring Oil [Financial Post (Toronto, Ontario, Canada)]
Goldman Sachs Group, Inc. (The) (GS)
Last goldman sachs group, inc. (the) earnings: 4/15 07:30 am
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Source: Financial Post
Author of the article: You can save this article by registering for free here . Or sign-in if you have an account. (Bloomberg) — With energy stocks trading near all-time highs and oil climbing as well, hedge funds think they've found a trade to capitalize: Sell the shares and pour the profits into buying more crude. Hedge funds have been selling US energy stocks for three straight weeks, according to prime brokerage data from Goldman Sachs Group Inc. The net allocation to energy also is well below historical levels, with energy now making up just 2.2% of overall US net exposure on Goldman's prime brokerage book. And the sector's long-short ratio has fallen to a five-year low. Article content Article content Meanwhile, Brent crude is back around $90 a barrel, and the volume of bullish Brent options just surged past the record set in 2019. Traders are betting on further increases in oil prices after Israel vowed to respond to Iran's weekend missile and drone attack. “We a
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- 4/15/24 - Beat
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Sec Filings
- 4/30/24 - Form 424B2
- 4/30/24 - Form 424B2
- 4/30/24 - Form 424B2
- GS's page on the SEC website