Reversing the trend that began in early-July and then accelerated later in the month, the “tonnes in the trust” at the popular SPDR Gold Shares ETF (NYSE:GLD) has been rising in recent weeks, the largest addition in over two months occurring just yesterday.
Some of this new buying could have come from Eton Park Capital Management as they recently disclosed via regulatory filings that their hedge fund holdings of GLD went from zero in the first quarter to nearly $800 million in the second quarter. John Paulson reported that his hedge funds now own 31.5 million shares of GLD, unchanged from the first quarter, and he remains the ETF’s largest holder at just under $4 billion.
