FSLR - Get Report) and MEMC Electronic Materials ( MEMC in the fourth quarter, though Soros Fund Management was doing just that. Soros Fund Management first added a 62,000-share First Solar position in the second quarter of 2010. In June 2010, First Solar shares sank to the low end of a well-established trading range, at a share price just above $100. By the end of October, First Solar shares were above the $150 mark. While shares of First Solar have since gone higher this year -- much higher in fact, to a new 18-month high of $172 last week -- there was clearly a short-term trading opportunity to be had based on the First Solar chart. First Solar shares also fell back toward the low-end of their trading range during November, when shares were in the range of $120. In the case of MEMC, Soros Fund Management had been bulking up and selling off the stock in successive quarters throughout 2010: At the end of the March 30, 2010 quarter, during which MEMC shares had dipped from $15 to $12, Soros Fund Management bought 750,000 shares. By the following June 30-end quarter, Soros Fund Management had sold the entire MEMC stake. By mid-April 2010, MEMC shares were near $16. In the Sept. 30 quarter, Soros Fund Management again bought heavily into MEMC shares, buying a stake of 600,000 shares. During August 2010, MEMC shares had dipped below the $10 mark. As the fourth quarter filing reveals, Soros Fund Management again exited its entire MEMC position with a quarter. MEMC shares rose from below $10 in July to above $13 by October. As in the First Solar chart trading case, there were short-term opportunities in both solar stocks through the previous year. Soros Fund Management also revealed new positions in solar stocks in the fourth quarter, including SatCon ( SATC and JA Solar ( JASO.
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