Soros cuts stakes in gold-backed ETFs: report

Posted by Forexsq 1012 days ago (
img Soros Fund Management LLC, which is run by billionaire investor George Soros, reportedly cut its stakes in exchange-traded products backed by gold in the fourth quarter, according to media reports Friday. Citing filings from the Securities and Exchange Commission the prior day, documents showed Soros Fund Management cut its investment in the SPDR Gold Trust GLD -0.44% by 55% to 600,000 shares as of Dec. 31 from a three-month prior period. Meanwhile, Louis Moore Bacon's Capital Management LP sold its entire stake in that SPDR fund as well as cutting holdings in its Sprott Physical Gold Trust. Paulson & Co., the biggest investor in SPDR, retained its 21.8 million-share stake, according to forexsq.

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