DAVENPORT & Co LLC Reduces Position in SPDR Gold Shares $GLD

DAVENPORT & Co LLC decreased its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 6.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 42,571 shares of the exchange traded fund’s stock after selling 2,925 shares during the period. DAVENPORT & Co LLC’s holdings in SPDR Gold Shares were worth $12,977,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. MJT & Associates Financial Advisory Group Inc. purchased a new position in SPDR Gold Shares during the first quarter worth approximately $30,000. Columbia River Financial Group LLC acquired a new stake in shares of SPDR Gold Shares in the 1st quarter worth $34,000. Stone House Investment Management LLC purchased a new position in shares of SPDR Gold Shares during the 1st quarter worth $34,000. Legacy Wealth Managment LLC ID raised its holdings in shares of SPDR Gold Shares by 51.1% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the exchange traded fund’s stock worth $39,000 after acquiring an additional 46 shares during the period. Finally, HWG Holdings LP acquired a new position in shares of SPDR Gold Shares during the 1st quarter valued at about $53,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Trading Up 1.9%

SPDR Gold Shares stock opened at $364.38 on Tuesday. The company has a 50-day moving average price of $325.72 and a 200 day moving average price of $310.51. SPDR Gold Shares has a 12-month low of $236.13 and a 12-month high of $365.30. The stock has a market cap of $129.65 billion, a P/E ratio of -32.43 and a beta of 0.15.

SPDR Gold Shares 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).