Look out shorty! In a bear market it's a self fulfilling nightmare to manage a mutual fund. Your investors are redeeming your fund because the NAV is dropping. This forces you to sell at stupid low prices which causes the NAV to drop. rinse and repeat. TODAY, it's the same phenomenon, but in reverse. Investors are flooding your fund with cash because the NAV is jumping. You complain as the fund manager because you have to keep chasing the stocks you own or dilute your returns with cash. Your bosses and the entire mutual fund sales world would hang you if you closed the fund to new money. SO ..... What does Eric, fund manager of the year do? He launches an ETF of course that tracks his fund. More money goes into the names he likes, his NAV keeps going up. The losers? Anybody short any of his names is getting squeezed. BTE is on the top ten list. Here's the list. https://www.ninepoint.com/funds/ninepoint-energy-fund/