Other prominent hedge fund managers cut their stakes in the gold ETF. Eton Park Capital’s Eric Mindich had dissolved his stake by the end of the second quarter, according to the Reuters report. Eton Park owned more than $1.5 billion worth of call options and GLD common shares at the end of the first quarter.
Vinik Asset Management, the hedge fund founded by former Fidelity manager Jeffrey Vinik, also cut its entire stake in GLD, according to reports.
SPDR Gold Shares
Full disclosure: Tom Lydon’s clients own GLD.