DAVENPORT & Co LLC cut its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 6.4% in the second quarter, HoldingsChannel.com reports. The firm owned 42,571 shares of the exchange traded fund’s stock after selling 2,925 shares during the quarter. DAVENPORT & Co LLC’s holdings in SPDR Gold Shares were worth $12,977,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of SPDR Gold Shares in the 1st quarter worth approximately $30,000. Stone House Investment Management LLC acquired a new position in SPDR Gold Shares during the first quarter worth $34,000. Columbia River Financial Group LLC purchased a new position in shares of SPDR Gold Shares during the first quarter worth $34,000. Legacy Wealth Managment LLC ID boosted its position in shares of SPDR Gold Shares by 51.1% during the first quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 46 shares during the period. Finally, HWG Holdings LP acquired a new stake in shares of SPDR Gold Shares in the first quarter valued at $53,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.
SPDR Gold Shares Trading Up 1.9%
GLD stock opened at $364.38 on Tuesday. The business’s fifty day moving average price is $325.72 and its 200 day moving average price is $310.51. SPDR Gold Shares has a 12-month low of $236.13 and a 12-month high of $365.30. The company has a market capitalization of $129.65 billion, a PE ratio of -32.43 and a beta of 0.15.
About SPDR Gold Shares
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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Want to see what other hedge funds are holding GLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR Gold Shares (NYSEARCA:GLD – Free Report).
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