George Soros’ Soros Fund Management LLC boosted its stake in GDX in the first quarter and added to its position in Barrick Gold (NYSE: ABX) as well, according to Bloomberg. Barrick is GDX’s second-largest holding with an allocation of 13.2%. GDX has outpaced GLD this year by about 150 basis points. [Mining ETFs Top Physical Counterparts]
Other positions in exchange traded products for Soros Fund Management at the end of the first quarter included a new, small position in the VelocityShares Daily Inverse VIX Short-Term ETN (NYSEArca: XIV), put options on the iShares Russell 2000 ETF (NYSEArca: IWM) and the iPath S&P 500 VIX Short-Term Futures ETN (NYSEArca: VXX), according to Whale Wisdom.
Soros Fund Management also added to its position in the Market Vectors Junior Gold Miners ETF (NYSEArca: GDXJ) while eliminating a small stake in the Financial Select Sector SPDR (NYSEArca: XLF). The firm added a position of 225,000 shares in the Energy Select Sector SPDR (NYSEArca: XLE), according to Whale Wisdom. XLE is the top asset-gathering sector ETF in 2014. [Energy Sector Dominates 2014 ETF Inflows]
Market Vectors Gold Miners ETF
Tom Lydon’s clients own shares of GLD and IWM.