I have never shorted a stock before so I am not exactly sure how it works.
If I invest $1,000 in a fund that is 3% made up of a company I do not want to own, can I then short $30 of the stock to effectively nullify my ownership position. If the stock goes up $10, I lose $10 on the short and vice versa.
No, unfortunately I cannot find an ETF/mutual fund I like that does not contain this specific company.
Would that work or am I missing something?