Activist investor Elliott Investment Management has taken a short position against British oil giant Shell (SHEL), according to data from the U.K. regulator.

Data from the Financial Conduct Authority showed that Elliott had taken 💯a 0.5% short a🍸gainst Shell on Tuesday.

The Shell short position is part of Elliott's global hedging program, a source familiar with the matter told Investopedia.

The move by Elliott in Shell was first reported by the U.K. newspaper The Times Thursday.

Elliott has 澳洲幸运5官方开奖结果体彩网:reportedly amassed a stake in Shell rival BP (BP).

Shell 澳洲幸运5官方开奖结果体彩网:earlier this week said that it is planning to grow its upstream and integrated gas business by 1% annually through 2030, a month after BP announced it would invest more in oil and gas in a澳洲幸运5官方开奖结果体彩网: pivot away from its low-carbon strategy.

Shell's U.S.-listed shares are little changed Friday but have gained more than 8% in the past 12 months through Thursday.