Dear Valued Visitor,

We have noticed that you are using an ad blocker software.

Although advertisements on the web pages may degrade your experience, our business certainly depends on them and we can only keep providing you high-quality research based articles as long as we can display ads on our pages.

To view this article, you can disable your ad blocker and refresh this page or simply login.

We only allow registered users to use ad blockers. You can sign up for free by clicking here or you can login if you are already a member.

Hedge Funds Lose Big After United States Steel Corp Dropped 7.62%

United States Steel Corporation (X) dropped $7.62% at 3:28PM EST on Monday following other steel stocks. The entire industry is under pressure today after Schnitzer Steel Industries (SCHN) disclosed a disappointing first quarter guidance. Now X is trading at $23.90, down 7.62% or $1.97 from its close on Friday.

David Shaw

Here is a list of hedge funds that may reveal large losses due to the price decline.

1. David E. Shaw – D. E. Shaw: lost $1.68 million

2. Aletheia Research and Management – Peter J. Eichler Jr.: lost $473 thousand

3. Astenbeck Capital Management – Andrew Hall: lost $448 thousand

4. Blue Mountain Capital – Andrew Feldstein and Stephen Siderow: lost $446 thousand

5. Carlson Capital – Clint Carlson: lost $415 thousand

6. Adage Capital Management – Phill Gross and Robert Atchinson: lost $184 thousand

7. Citadel Investment Group – Ken Griffin: lost $175 thousand

8. Magnetar Capital – Alec Litowitz and Ross Laser: lost $109 thousand

9. Visium Asset Management – Jacob Gottlieb: lost $98 thousand

10. Millennium Management – Israel Englander: lost $66 thousand

DISCLAIMER: These calculations assume that these hedge funds did not increase or reduce their stock positions in X since the end of September. We did not take into account their option positions.

Biotech Stock Alert - 20% Guaranteed Return in One Year

Hedge Funds and Insiders Are Piling Into

One of 2015's best hedge funds and two insiders snapped up shares of this medical device stock recently. We believe its transformative and disruptive device will storm the $3+ billion market and help it achieve 500%-1000% gains in 3 years.

Get your FREE REPORT and the details of our 20% return guarantee today.

Subscribe me to Insider Monkey's Free Daily Newsletter
This is a FREE report from Insider Monkey. Credit Card is NOT required.
Loading Comments...

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 102% in 3 years!! Wondering How?

Download a complete edition of our newsletter for free!