Corvex Management LP Decreases Stock Position in SPDR Gold Shares (NYSEARCA:GLD)

Corvex Management LP trimmed its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 77.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 116,000 shares of the exchange traded fund’s stock after selling 397,000 shares during the period. SPDR Gold Shares accounts for about 0.9% of Corvex Management LP’s holdings, making the stock its 16th largest holding. Corvex Management LP’s holdings in SPDR Gold Shares were worth $18,555,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in GLD. FMR LLC lifted its holdings in SPDR Gold Shares by 1,211.6% during the 1st quarter. FMR LLC now owns 105,272 shares of the exchange traded fund’s stock worth $12,844,000 after buying an additional 97,246 shares during the last quarter. Camden National Bank increased its position in shares of SPDR Gold Shares by 6.2% during the fourth quarter. Camden National Bank now owns 4,225 shares of the exchange traded fund’s stock worth $754,000 after purchasing an additional 245 shares in the last quarter. Global Wealth Management Investment Advisory Inc. acquired a new stake in shares of SPDR Gold Shares during the fourth quarter worth about $38,000. Centric Wealth Management increased its position in shares of SPDR Gold Shares by 98.8% during the fourth quarter. Centric Wealth Management now owns 3,506 shares of the exchange traded fund’s stock worth $625,000 after purchasing an additional 1,742 shares in the last quarter. Finally, Sax Wealth Advisors LLC acquired a new stake in shares of SPDR Gold Shares during the fourth quarter worth about $285,000. 37.06% of the stock is owned by institutional investors.

Shares of GLD traded down $0.02 during midday trading on Thursday, reaching $168.74. 205,804 shares of the stock were exchanged, compared to its average volume of 6,987,852. The firm has a 50-day simple moving average of $171.89. SPDR Gold Shares has a twelve month low of $157.13 and a twelve month high of $194.45.

SPDR Gold Shares Company Profile

SPDR Gold Trust (the Trust) is an investment trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust’s expenses. The Trust’s business activity is the investment of gold. The Trust creates and redeems Shares from time to time, but in one or more Baskets (a Basket equals a block of 100,000 Shares).

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Institutional Ownership by Quarter for SPDR Gold Shares (NYSEARCA:GLD)

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