Summit Financial Wealth Advisors LLC Lowers Stock Position in SPDR Gold Shares (NYSEARCA:GLD)

Summit Financial Wealth Advisors LLC cut its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 13.2% during the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 3,174 shares of the exchange traded fund’s stock after selling 481 shares during the period. Summit Financial Wealth Advisors LLC’s holdings in SPDR Gold Shares were worth $566,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Fifth Third Bancorp boosted its holdings in SPDR Gold Shares by 2.5% during the first quarter. Fifth Third Bancorp now owns 243,688 shares of the exchange traded fund’s stock worth $44,649,000 after buying an additional 5,910 shares in the last quarter. Zions Bancorporation N.A. purchased a new stake in SPDR Gold Shares during the first quarter worth $92,000. Aries Wealth Management boosted its holdings in SPDR Gold Shares by 1.9% during the first quarter. Aries Wealth Management now owns 10,477 shares of the exchange traded fund’s stock worth $1,920,000 after buying an additional 191 shares in the last quarter. Ciovacco Capital Management LLC boosted its holdings in SPDR Gold Shares by 99.3% during the first quarter. Ciovacco Capital Management LLC now owns 13,822 shares of the exchange traded fund’s stock worth $2,532,000 after buying an additional 6,886 shares in the last quarter. Finally, Bremer Bank National Association purchased a new stake in SPDR Gold Shares during the first quarter worth $212,000. 40.99% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

NYSEARCA GLD traded down $0.10 during mid-day trading on Tuesday, reaching $179.29. 1,213,489 shares of the stock were exchanged, compared to its average volume of 6,910,337. The business’s 50 day moving average is $179.30 and its 200-day moving average is $181.13. SPDR Gold Shares has a 1 year low of $150.57 and a 1 year high of $191.36.

SPDR Gold Shares 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).