Thursday, 1 September 2016
Last updated 4 hours ago
Sep 17 2010 | 6:36am ET
After two awful months, SandRidge Capital posted a sizeable gain in August—but remains down double-digits for the year.
The Texas-based energy hedge fund, which has seen its assets under management drop about 30% to $700 million since June, returned 7.2% last month. The turnaround likely came from short bets against natural gas, which fell 22% in August, Reuters reports.
Those same short bets are thought to have been what burned SandRidge badly earlier this summer. The fund lost about 15% in June and 19% in July. SandRidge is down 17% on the year.