GLD Moves Into Top Spot, Surpasses SPY As Biggest ETF
Is $5,000/Ounce The New Target In Gold’s Run?MKM: Buy Silver ETF (14% Upside); Pair Utilities With October Calls
By Murray Coleman
Here’s another rather stark sign of our times:
– The SPDR Gold Trust (GLD) on Friday moved past the grand-daddy of all ETFs, the SPDR S&P 500 (SPY), as the leader in overall assets.
According to data provided by State Street’s (STT) Global Advisors ETF unit today, here’s a breakdown of assets as of Friday’s close:
GLD: $76.67 billion
SPY: $74.38 billion
But something to keep in mind about these very fluid numbers:
SPY over the past several months has been averaging more than 200 million shares traded a day.
GLD’s average volume is slightly more than 18.3 million a day.
Also, SPY entered today’s session with a return of -9.6% on the year. Meanwhile, GLD’s net asset value was ahead by nearly 31% so far in 2011.
On Monday, SPY had most recently gained 0.5%. The gold ETF was up 2.3% on the day.
via GLD Moves Into Top Spot, Surpasses SPY As Biggest ETF – Focus on Funds – Barrons.com.