FILE PHOTO: A Tesla logo is seen at a groundbreaking ceremony of Tesla Shanghai Gigafactory in Shanghai, China January 7, 2019. REUTERS/Aly Song/File Photo
NEW YORK (Reuters) – Billionaire Ray Dalio’s Bridgewater Associates, Viking Global Investors, and Granite Point Capital were among prominent hedge funds placing new bets on electric carmaker Tesla Inc (TSLA.O) in the fourth quarter, positioning them to gain from its nearly 100% rally over the first six weeks of the year.
The positions were revealed in 13F filings with the U.S. Securities and Exchange Commission released on Thursday and Friday, which are one of the few public ways of tracking what hedge fund managers are selling and buying. The disclosures are made 45 days after the end of each quarter and may not reflect current positions.
If each hedge fund had held on to its stake, Bridgewater’s purchase of nearly 45,000 shares would be worth approximately $36 million, while Viking’s purchase of nearly 52,000 shares…
Source Reuters Tech News