Forte Asset Management LLC Reduces Position in SPDR Gold Shares (NYSEARCA:GLD)

Forte Asset Management LLC trimmed its stake in SPDR Gold Shares (NYSEARCA:GLD) by 17.1% in the first quarter, HoldingsChannel.com reports. The fund owned 5,559 shares of the exchange traded fund’s stock after selling 1,150 shares during the quarter. Forte Asset Management LLC’s holdings in SPDR Gold Shares were worth $1,602,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Murphy & Mullick Capital Management Corp purchased a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $26,000. Columbia River Financial Group LLC purchased a new stake in SPDR Gold Shares in the 1st quarter valued at about $34,000. HWG Holdings LP acquired a new position in shares of SPDR Gold Shares during the 1st quarter valued at about $53,000. American National Bank & Trust lifted its holdings in shares of SPDR Gold Shares by 189.4% during the 1st quarter. American National Bank & Trust now owns 191 shares of the exchange traded fund’s stock worth $55,000 after acquiring an additional 125 shares during the period. Finally, Inlight Wealth Management LLC purchased a new position in shares of SPDR Gold Shares during the 1st quarter worth about $55,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

SPDR Gold Shares stock opened at $307.14 on Friday. SPDR Gold Shares has a 1 year low of $217.27 and a 1 year high of $317.63. The firm has a 50 day moving average price of $306.16 and a 200 day moving average price of $281.50. The company has a market cap of $101.60 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15.

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).