Alhambra Investment Management LLC reduced its position in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 7.1% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,081 shares of the exchange traded fund’s stock after selling 159 shares during the quarter. Alhambra Investment Management LLC’s holdings in SPDR Gold Shares were worth $634,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently bought and sold shares of the company. MJT & Associates Financial Advisory Group Inc. acquired a new stake in SPDR Gold Shares during the first quarter worth about $30,000. Columbia River Financial Group LLC acquired a new stake in SPDR Gold Shares during the first quarter worth about $34,000. Stone House Investment Management LLC acquired a new stake in SPDR Gold Shares during the first quarter worth about $34,000. Legacy Wealth Managment LLC ID increased its position in 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 purchasing an additional 46 shares during the last quarter. Finally, HWG Holdings LP acquired a new stake in SPDR Gold Shares during the first quarter worth about $53,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.
SPDR Gold Shares Trading Up 0.4%
SPDR Gold Shares stock opened at $346.46 on Wednesday. SPDR Gold Shares has a 12-month low of $236.13 and a 12-month high of $348.75. The stock has a market cap of $115.51 billion, a P/E ratio of -32.43 and a beta of 0.15. The company has a 50-day moving average price of $317.99 and a 200 day moving average price of $305.41.
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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