Paulson, Vinik Sell SPDR Gold Shares As Soros Buys

By
February 16, 2012
Share:

Related ETFs

Ticker Fund name
GLDSPDR Gold
Related ETF Lists
Gold ETFs

 

Paulson & Co., the hedge fund founded by billionaire John Paulson, recently sold some of its holding shares of the SPDR Gold Shares (NYSEArca: GLD) physical bullion ETF for the second quarter in a row, according to an article published on Bloomberg.

Paulson—while still the largest stakeholder in GLD—held 17.3 million shares in GLD as of Dec. 31, 2011, a 15 percent drop from the 20.3 million shares his hedge fund held in September, according to the Bloomberg report, which cited regulatory filings with the Securities and Exchange Commission.

Other companies such as Vinik Asset Management LP, Tudor Investment Corp. and SAC Capital Advisors LP sold shares of gold as well.

However, Lone Pine Capital LLC and billionaire investor George Soros increased holdings, the Bloomberg article said.

Thanks to gold’s performance of last year—it rose around 8 percent—profits from the unloading of gold holdings may be used to cover some of the losses investors may have suffered in other areas of the market, notably equities, the wire service said.

Visit Bloomberg.com for the full story.

 

ETF.COM CHANNELS

Trying to figure out alternatives ETFs? Use our alternatives ETFs channel, library and ETF screener!

Want to learn more about smart-beta ETFs? Check out our smart-beta guide, essentials library and ETF screener!

ETF DAILY DATA

The broad-market 'SPY' and energy ETF 'XLE' were the biggest winners in terms of inflows on Thursday, Aug. 27.

The top three ETF issuers all saw net inflows into their products as the market surged on Thursday, Aug. 27.

ETF.COM ANALYST BLOGS

By Dave Nadig

With many ETFs currently trading well off fair value, what’s an ETF investor to do? Don’t panic.

By Matt Hougan

Out-of-favor funds can bring attractive returns.

By Matt Hougan

New data from Charles Schwab show that the death of mutual funds is happening faster than we thought.

By Dave Nadig

Grab the popcorn. Precidian just doubled-down on its nontransparent active ETF proposal with the SEC this morning.

ETF INDUSTRY PERSPECTIVE

By John Del Vecchio

An index that goes long financially sound companies and shorts the ones with problematic balance sheets.

By Dan Draper

The nature of retirement is changing. How can investors adapt?

By Invesco PowerShares

A more in-depth look at the smart-beta survey's results.