Asia Tech Wire (Nov 11) -- Hedge funds holding on to short Tesla have lost billions of dollars since Donald Trump won the U.S. presidential election, according to Bloomberg.

The news outlet's calculations of data aggregated by S3 Partners found that hedge funds with short positions in Tesla booked losses of at least $5.2 billion from Election Day through Friday's close.

Many hedge funds have unwound their short bets on Tesla over the past four months, according to separate data provided by Hazeltree that tracks the positions of more than 500 hedge funds.

This position adjustment corresponds with Tesla CEO Elon Musk's endorsement of Trump on July 13th.

And according to weekly data provided by Hazeltree, only 7% of hedge funds were net short Tesla as of Nov. 6, down from 17% in early July.