Activist investor Elliott takes short position in Shell after building a stake in rival BP
1. Elliott Investment Management shorted Shell, betting against its stock value. 2. Activist investor took a near 5% stake in BP post-short position against Shell. 3. Short position against Shell represents the largest disclosed in a decade. 4. Shell plans to increase shareholder returns, focusing on liquified natural gas. 5. BP may reduce renewable investment, shifting focus to fossil fuels.