Kings Path Partners LLC Cuts Stake in SPDR Gold Shares $GLD

Kings Path Partners LLC reduced its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 80.0% in the second quarter, HoldingsChannel reports. The institutional investor owned 200 shares of the exchange traded fund’s stock after selling 800 shares during the period. Kings Path Partners LLC’s holdings in SPDR Gold Shares were worth $61,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in the stock. Raymond James Financial Inc. grew its holdings in SPDR Gold Shares by 11.0% during the 1st quarter. Raymond James Financial Inc. now owns 2,063,634 shares of the exchange traded fund’s stock valued at $594,616,000 after buying an additional 204,676 shares in the last quarter. Ameriprise Financial Inc. grew its holdings in SPDR Gold Shares by 12.2% during the 1st quarter. Ameriprise Financial Inc. now owns 1,556,698 shares of the exchange traded fund’s stock valued at $450,902,000 after buying an additional 169,005 shares in the last quarter. 59 North Capital Management LP grew its holdings in SPDR Gold Shares by 76.4% during the 1st quarter. 59 North Capital Management LP now owns 1,263,196 shares of the exchange traded fund’s stock valued at $363,977,000 after buying an additional 547,018 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in SPDR Gold Shares by 9.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,217,861 shares of the exchange traded fund’s stock valued at $350,914,000 after buying an additional 106,648 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in shares of SPDR Gold Shares by 16.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 1,141,703 shares of the exchange traded fund’s stock valued at $328,970,000 after acquiring an additional 161,638 shares during the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

GLD stock opened at $335.42 on Friday. The firm has a fifty day moving average price of $313.29 and a 200 day moving average price of $301.86. SPDR Gold Shares has a fifty-two week low of $235.30 and a fifty-two week high of $338.31. The firm has a market cap of $111.83 billion, a PE 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).