Short sellers make nearly $300 million betting against retail investors’ favorite oil fund

As smaller investors pile into the risky and troubled United States Oil Fund, hedge funds are taking the other side of that trade and making a lot of money.

As the fund, which trades under the ticker USO, plunged 75% in the last two months, those who bet against it by short selling pocketed hundreds of millions of dollars.

According to data from S3 Partners, from Feb. 27 to April 21 “short…

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