Senvest Opens New Stake In National Bank of Greece (NBG)

Senvest Partners was adding to its short portfolio a couple of months back, however both short and long positions suffered a loss in May. The fund was down 2% in last month, trimming down the year-to-date gain to 6.7%, according to a monthly letter reviewed by ValueWalk. The Canadian based, value oriented hedge fund, had a spectacular 2013 with a return of 80%.

The earnings season did not prove to be a good time for the hedge fund. The fund's largest losers on the long side were, Depomed Inc (NASDAQ:DEPO), Gain Capital Holdings Inc (NYSE:GCAP) and Senomyx Inc. (NASDAQ:SNMX). Depomed, a pharmaceutical company specializing in pain management, fell 15% in May after reporting disappointing earnings.

Senvest...

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