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In a topsy-turvy market, hedge funds appear to be betting blue chips like Walmart, Philip Morris International, and Amazon.com can keep delivering solid returns, while punishing clean-energy bets such as Enphase Energy and Albemarle.
The names are all on a list of least and most shorted stocks by hedge funds, published by BofA Securities on Monday. The bank compiled the list by measuring short interest, the total value of bearish bets placed by hedge funds, against the stocks’ float, a measure of the total value of the company’s shares available to be purchased on the open market.
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