SAC Capital Advisors, the hedge fund run by Steven Cohen, has disclosed it bought a large position in options on shares of the SPDR Gold Trust, The Wall Street Journal reports. Cohen had no declared gold ETF holdings as of March 31. Securities and Exchange Commission filings show he put $627.7 million in 4.3 million investment options, adds Mineweb. These options will let SAC acquire shares of the gold ETF at a defined point in time. Also, at the end of March, the hedge fund cut its stock position in Newmont Mining to 2.18 million shares from 4.6 million and in retailer BJ’s Wholesale Club to about 996,000 shares from more than 2.8 million.
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