Soros Fund Management LLC sharply cut its shares in gold in the second quarter, when bullion prices rose to two-year highs, regulatory filings with the U.S. Securities and Exchange Commission showed on Monday.
The fund, which returned to the world’s biggest gold exchange-traded fund SPDR Gold Trust (GLD.P) in the first quarter of 2016 after a three-year absence, sharply cut his stake in the second quarter.
Billionaire financier George Soros’ fund reduced its holdings in SPDR Gold Trust to 240,000 shares worth $30.4 million, from 1.05 million shares worth $123.5 million in the first quarter.
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