(Bloomberg) -- Greenlight Capital, the hedge fund firm led by David Einhorn, lost 1 percent in April, according to an email to clients that was seen by Bloomberg News.
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The result trailed the 1.2 percent rise in the S&P 500 Total Return Index, a measure that includes reinvested dividends, during the month. The stock-market index has gained 7.2 percent this year.
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Like the average hedge fund, Greenlight is trailing the U.S. stock market in 2017. April’s performance pares its gains to 0.4 percent for the first four months of the year. A preliminary estimate of hedge fund performance rose 2.1 percent this year through April 27.
Jonathan Gasthalter, a spokesman for the New York-based firm, declined to comment.