Some pumpjacks operate while others stand idle in the Belridge oil field on November 03, 2021 near McKittrick, California.
Mario Tama | Getty Images
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Hedge funds have ramped up their commodity bets as prices surged during geopolitical turmoil, and managers with big exposure are reaping sizable profits.
The energy sector saw the most net buying from hedge funds last month compared to other groups of stocks, according to Morgan Stanley prime brokerage data. The combination of the buying and energy’s outperformance resulted in net exposure reaching a two-year high for the hedge fund community, the data said.
Commodities have been a…