Wednesday, 7 October 2015
Last updated 10 hours ago
Feb 8 2010 | 8:25am ET
Commodities hedge fund Touradji Capital Management poured more than $50 million into steel companies in the fourth quarter, according to a regulatory filing.
The $2.7 billion New York-based firm moved to profit from the federal “Cash for Clunkers” car program, which forced automakers to increase their purchases of steel. Touradji bought $50.8 million worth of shares in four steel companies, including U.S. Steel and Steel Dynamics.
The hedge fund also bought nearly $10 million in XTO Energy shares, according to the filing.
Oct 7 2015 | 4:57am ET
Charity A Leg To Stand On (ALTSO) will hold its 12th Annual Hedge Fund Rocktoberfest – NYC on October 15 and its 4th Annual Rocktoberfest - Chicago on October 22. Read more…