Billionaire investor’s Soros Fund Management did stick with a miner
George Soros’s hedge fund Soros Fund Management sold its stake in a widely used gold exchange-traded fund in the third quarter, according to a regulatory filing out Monday.
But while his fund bailed on GLD during the third quarter, it didn’t abandon all things gold.
Soros Fund Management increased its stake in Canadian miner Barrick Gold Corp. ABX, -0.19% ABX, -0.29% , reporting ownership of 2.85 million shares, up from 1.07 million shares in the second quarter. But that’s still down sharply from owning more than 19 million of Barrick Gold’s shares in the first quarter.
The SPDR Gold Trust is the largest gold ETF, with $38 billion in investor money.
This story was first published on Nov. 15, 2016.
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