Hedge fund Farallon Capital, for instance, bought nearly 7.8 million shares of Twitter during the quarter that ended Sept. 30, while Franklin Resources, the parent company of mutual fund firm Franklin Templeton, added nearly 2.6 million shares to an existing position of less than 100,000 shares. Shares of Twitter fell to as low as $33 during the third quarter before ending September near $44. The value of Twitter shares jumped 23.2% in October when Musk completed the deal on Oct. 27 by paying $54.20 per share. While some funds reaped short-term rewards, other investors left some potential gains on the table by selling before the October rally in Twitter shares. Wells Fargo & Co (WFC.N) sold 3.7 million shares of the company, while ClearBridge Investments LLC sold 1.9 million shares.

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