Wall Street Journal Fund Track column
, Lauren Pollock reports that five closed-end Pimco
funds will buy back an additional $225 million in auction-rate securities. This comes in the wake of an announcement last month that the funds
planned to buy back about $342 million of the securities.
The buybacks mark a departure from Pimco's earlier stance. It had refused to redeem the securities for months after the auction-rate market froze last year.
In the second portion of Fund Track, Morning Zhou reports that SPDR Gold Shares'
holdings touched a record high of 1,038 tons on Wednesday.
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