Conservest Capital Advisors Inc. Decreases Position in SPDR Gold Shares $GLD

Conservest Capital Advisors Inc. decreased its stake in SPDR Gold Shares (NYSEARCA:GLD) by 1.8% in the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 29,487 shares of the exchange traded fund’s stock after selling 535 shares during the quarter. SPDR Gold Shares comprises approximately 0.9% of Conservest Capital Advisors Inc.’s portfolio, making the stock its 21st largest position. Conservest Capital Advisors Inc.’s holdings in SPDR Gold Shares were worth $8,989,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Raymond James Financial Inc. boosted its position in shares of SPDR Gold Shares by 11.0% in the first quarter. Raymond James Financial Inc. now owns 2,063,634 shares of the exchange traded fund’s stock worth $594,616,000 after buying an additional 204,676 shares during the period. Ameriprise Financial Inc. boosted its position in shares of SPDR Gold Shares by 12.2% in the first quarter. Ameriprise Financial Inc. now owns 1,556,698 shares of the exchange traded fund’s stock worth $450,902,000 after buying an additional 169,005 shares during the period. 59 North Capital Management LP boosted its position in shares of SPDR Gold Shares by 76.4% in the first quarter. 59 North Capital Management LP now owns 1,263,196 shares of the exchange traded fund’s stock worth $363,977,000 after buying an additional 547,018 shares during the period. Envestnet Asset Management Inc. boosted its position in shares of SPDR Gold Shares by 9.6% in the first quarter. Envestnet Asset Management Inc. now owns 1,217,861 shares of the exchange traded fund’s stock worth $350,914,000 after buying an additional 106,648 shares during the period. Finally, Commonwealth Equity Services LLC boosted its position in shares of SPDR Gold Shares by 16.5% in the first quarter. Commonwealth Equity Services LLC now owns 1,141,703 shares of the exchange traded fund’s stock worth $328,970,000 after buying an additional 161,638 shares during the period. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD opened at $377.52 on Friday. SPDR Gold Shares has a 1-year low of $236.13 and a 1-year high of $403.30. The business has a 50-day moving average of $345.72 and a 200-day moving average of $319.91. The company has a market capitalization of $138.78 billion, a price-to-earnings 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).