Essex Financial Services Inc. Trims Position in SPDR Gold Shares (NYSEARCA:GLD)

Essex Financial Services Inc. cut its position in SPDR Gold Shares (NYSEARCA:GLD) by 1.0% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 89,358 shares of the exchange traded fund’s stock after selling 947 shares during the period. SPDR Gold Shares comprises 1.5% of Essex Financial Services Inc.’s portfolio, making the stock its 11th largest holding. Essex Financial Services Inc.’s holdings in SPDR Gold Shares were worth $21,636,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLD. Ashton Thomas Securities LLC purchased a new stake in shares of SPDR Gold Shares in the third quarter worth $28,000. Capital Performance Advisors LLP bought a new position in shares of SPDR Gold Shares during the third quarter worth $35,000. Pittenger & Anderson Inc. bought a new position in shares of SPDR Gold Shares during the third quarter worth $38,000. Keystone Financial Group Inc. bought a new position in shares of SPDR Gold Shares during the fourth quarter worth $39,000. Finally, Maryland Capital Advisors Inc. bought a new position in shares of SPDR Gold Shares during the third quarter worth $40,000. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

Shares of NYSEARCA:GLD opened at $268.37 on Tuesday. The firm has a fifty day moving average price of $248.30 and a 200 day moving average price of $242.21. SPDR Gold Shares has a fifty-two week low of $183.78 and a fifty-two week high of $268.66.

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).