Hedge Funds Short Oil and Gas Explorers In UK

Oil and Gas Explorers are a new hedge fund favorite (well sort of)... While Odey Asset Management has a knack of betting rightly against several companies, we are not sure whether the timing of its latest short in Admiral Group plc (LON:ADM), a UK based auto insurer, was motivated by a bear case or was an attempt to cash into the ex-dividend drawdown, or both. The fund disclosed a 0.5 percent short position in Admiral Group plc (LON:ADM) on April 29, the company paid out dividend on May 1 and as a result has lost some 6.8 percent in value since. Whatever the case is for Odey's short, the fund is so far gaining on the position. Admiral...