Soros Reports Over $239mm In Gold Positions, Buys $25mm In Call Options On Juniors
“BullMarketThinking.com”
In a 13-F release issued by the SEC after market close yesterday, it was reported that Soros Fund Management LLC, founded and chaired by billionaire financier George Soros, significantly increased it’s gold related holdings, most notably, through the purchase of over $25 million dollars worth of call options on the GDXJ Junior Gold Miners index.
This stunning move by one of the world’s top performing hedge funds, suggests a powerful surge ahead for gold equities. It should be noted, that in the forty years prior to 2010, the Soros Fund averaged a 20% annual rate of return.
A breakdown of the 13-F data indicates that during the first quarter, the Soros Fund:
1. Maintained a $32mm stake in individual miners
2. Added a staggering 1.1 million shares of GDX to it’s holdings, at a reported price of $37.84 per share. Total Soros Fund GDX holdings now stand at 2.666 million shares, at a reported value of over $100,000,000.
3. Reduced it’s long position in the GDXJ Junior Miners Index fund, from 1.998 million shares to 1.2 million shares—only to turn around, and purchase 1.510 million call options on the same index, at a reported value of $25,200,000.
4. Lastly, the fund reduced it’s stake in the GLD physical gold fund from 600k shares to 530k shares, for a total reported value of $82,000,000.
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Source: http://bullmarketthinking.com/soros-reports-over-239mm-in-gold-positions-buys-25mm-in-call-options-on-juniors/
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