Cowa LLC reduced its position in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 7.0% in the first quarter, HoldingsChannel.com reports. The firm owned 10,588 shares of the exchange traded fund’s stock after selling 800 shares during the period. SPDR Gold Shares comprises about 1.3% of Cowa LLC’s investment portfolio, making the stock its 21st biggest holding. Cowa LLC’s holdings in SPDR Gold Shares were worth $3,051,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLD. MJT & Associates Financial Advisory Group Inc. acquired a new stake in shares of SPDR Gold Shares during the 1st quarter valued at $30,000. Stone House Investment Management LLC acquired a new stake in shares of SPDR Gold Shares during the 1st quarter valued at $34,000. Columbia River Financial Group LLC acquired a new stake in shares of SPDR Gold Shares during the 1st quarter valued at $34,000. HWG Holdings LP acquired a new stake in shares of SPDR Gold Shares during the 1st quarter valued at $53,000. Finally, Inlight Wealth Management LLC acquired a new stake in shares of SPDR Gold Shares during the 1st quarter valued at $55,000. 42.19% of the stock is owned by institutional investors.
SPDR Gold Shares Stock Performance
Shares of NYSEARCA:GLD opened at $307.43 on Friday. SPDR Gold Shares has a one year low of $228.26 and a one year high of $317.63. The stock has a fifty day moving average of $308.55 and a 200-day moving average of $294.08. The company has a market capitalization of $102.50 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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