Activist investor Elliott Investment Management has taken a short position against British oil giant Shell (SHEL), according to data from the U.K. regulator. Data from the Financial Conduct Authority showed that Elliott had taken a 0.5% short against Shell on Tuesday. The Shell short position is part of Elliott's global hedging program, a source familiar with the matter told Investopedia. The move by Elliott in Shell was first reported by the U.K. newspaper The Times Thursday. Shell earlier this week said that it is planning to grow its upstream and...

Elliott Investment Management Ltd., which is in the middle of an activist campaign at BP Plc, has taken a short position equivalent to 0.5% of shares in London-based peer Shell Plc. The short position, included in data published by the UK Financial Conduct Authority, is part of Elliott’s global hedging program, a person with knowledge of the matter said. The hedge fund has taken a large stake in BP, so short positions in other oil companies could help offset the risk of share moves driven by external factors, such as...