YPF shares closed up 8.75% at $47.48 on May 18, with market momentum building through May 20.
The rally followed disclosures that major U.S. investment funds significantly increased their holdings. Billionaire Stanley Druckenmiller’s fund acquired over 3 million shares, establishing YPF as a core holding. Discovery Capital Management and Oaktree Capital Management also expanded their positions during the first quarter.
Institutional interest stems from renewed optimism regarding expansion in the Vaca Muerta shale play. YPF’s first-quarter results highlighted record profitability and rapid growth in shale production.