It’s going really well for Plug Power Inc (NASDAQ:PLUG) stock holders as of lately. Even with the market-wide selloff on Thursday PLUG came back during pre-market session on Friday. PLUG shares are up 265% year-to date. Institutional investors who want to jump on the bandwagon have now also become aware of this. It has been announced that the hedge fund DE Shaw has invested in the American fuel specialist.
The hedge fund now holds five percent of the company after stocking up on a stake of 20.2 million shares. DE Shaw is known on the scene as an activist investor.
But this time the entry into Plug Power should be a passive investment. Therefore, there should be no interference with corporate management.
Besides D.E. Shaw some other big name hedge funds are holding PLUG stock in their portfolio. These names include BlackRock Fund Advisors, The Vanguard Group, Hood River and Pinnacle Associates.