With funds not all hedges are 50/50%. It depends on the percentage of the hedge position. For example 60/40 short or 60/40 long depending on how they view the sector. They make some gains on the long hedge with the price rising but not the full gain because it's countered by their 40% short. Likewise they make some gains on the short hedge with the price falling but not the full gain as it's countered by their 40% long position.
They ballance the swing losses/gains to what their policy require as acceptable levels to percieved bullish/bearish semntiments.
At the end of the day they still own the full 100% of their stock. The shorted stock is still there's but out on loan. So their overall they're sentiment is long term hold but counter some of the risk over the journey with smaller gains and losses until their sentiment on reduced future risk is certain.
Long/short positions for funds is not classed as conflicting, just risk management.
NEU Price at posting:
$13.13 Sentiment: Buy Disclosure: Held
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