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Four Things Einhorn, Soros Are Forgetting About Gold Miners ETF

Highlighting fourth-quarter 13F filings with the Securities and Exchange Commission, it was noted hedge fund legends David Einhorn and George Soros held sizable stakes in the largest gold miners ETF , the Market Vectors Gold Miners ETF (NYSE:GDX).To be fair to Soros, during the fourth quarter, he pared his stakes in GDX and the Market Vectors Junior Gold Miners ETF (NYSE:GDXJ) by 800,000 and 400,000 shares, but he still owned 1.5 million shares of GDX and about two million shares of GDXJ at the end of the quarter.At the end of the first quarter, Soros held 2.66 million shares of GDX, according to the latest 13F , meaning his stake in the ETF almost doubled. The filing also shows Soros still holds 1.2 million shares of GDXJ and initiated a new options position in that ETF .As for Einhorn's Greenlight Capital, that hedge fund still owns over 6 million shares of GDX . Either Einhorn and Soros know something about GDX and GDXJ that most of the rest of the world does not or they are forgett...

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