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China Investment Corp Continues Diversification In US Etfs

|Includes:GDX, SPDR Gold Trust ETF (GLD), MXI, USO

China Investment Corp. Likes U.S. ETFs

 China Investment Corp. Likes U.S. ETFs

About: U.S. Oil Fund (NYSE: USO), ETF Profit Report, China Investment Corp., SPDR Gold Shares ETF (NYSE: GLD), Market Vectors Gold Miners ETF (NYSE: GDX), iShares S&P Global Materials ETF (NYSE: MXI), iShares S&P Global Energy ETF Bookmark and Share

China Investment Corp., the $300 billion sovereign wealth fund of the world's biggest country, continues to diversify its holdings in U.S. equities and has now reached into ETFs, becoming the fourth-largest shareholder in the U.S. Oil Fund (NYSE: USO), the ETF that tracks crude oil futures. According to SEC filings, China Investment recently purchased 2 million shares of USO, or nearly 3.5% of the ETF's outstanding units.

The sovereign wealth fund, which made $10 billion in commodities-related investments in the second half of 2009, also purchased a $155.6 million stake in the SPDR Gold Shares ETF (NYSE: GLD). GLD, which is backed by physical gold bullion, is the second-largest ETF in the world by assets.

China Investment also holds 2.51 million shares of the Market Vectors Gold Miners ETF (NYSE: GDX), nearly 4.1 million shares of the iShares S&P Global Materials ETF (NYSE: MXI) and 2.95 million shares of the iShares S&P Global Energy ETF. Both GLD and MXI are members of the ETF Profit Report portfolio.

For more information about The ETF Profit Report, visit http://www.etfprofitreport.com/. To see the latest special offer from The ETF Profit Report, visit: http://www.etfprofitreport.com/etfs

Committed To Your ETF Profits,

Jim Trippon
Editor
ETF Profit Report

http://www.ETFProfitReport.com
 



Disclosure: no positions
Stocks: GLD, USO, MXI, GDX