This fund covered its Tesla short.. and then shorted it again

Aristides Fund LP was up 1.61% for April, while Aristides Fund QP, LP gained 1.54%. On a year-to-date basis, LP is down 6.02%, while QP, LP is down 5.24%. In his April letter to investors, which was reviewed by ValueWalk, managing member Christopher Brown said they estimate their positive-level alpha for last month at about 100 basis points.

Q1 2020 hedge fund letters, conferences and more

He added that the fund was only about 12.5% net long for the first half of the month before trimming the exposure even more to 0% to 5% net long in the last 10 days of the month. That meant...