Banque Pictet & Cie SA lowered its stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 30.6% in the second quarter, Holdings Channel reports. The fund owned 13,381 shares of the exchange traded fund’s stock after selling 5,889 shares during the quarter. Banque Pictet & Cie SA’s holdings in SPDR Gold Shares were worth $4,063,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of SPDR Gold Shares in the first quarter worth about $30,000. Columbia River Financial Group LLC acquired a new position in shares of SPDR Gold Shares in the first quarter valued at approximately $34,000. Stone House Investment Management LLC acquired a new position in shares of SPDR Gold Shares in the first quarter valued at approximately $34,000. Legacy Wealth Managment LLC ID increased its stake in shares of SPDR Gold Shares by 51.1% in the first quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the exchange traded fund’s stock valued at $39,000 after buying an additional 46 shares during the period. Finally, HWG Holdings LP acquired a new position in shares of SPDR Gold Shares in the first quarter valued at approximately $53,000. Institutional investors own 42.19% of the company’s stock.
SPDR Gold Shares Price Performance
SPDR Gold Shares stock opened at $346.74 on Friday. The business has a 50 day moving average of $320.20 and a 200-day moving average of $306.75. SPDR Gold Shares has a 1 year low of $236.13 and a 1 year high of $348.75. The company has a market capitalization of $115.60 billion, a P/E 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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