FineMark National Bank & Trust Cuts Stake in SPDR Gold Shares (NYSEARCA:GLD)

FineMark National Bank & Trust lowered its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 0.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 28,056 shares of the exchange traded fund’s stock after selling 231 shares during the quarter. FineMark National Bank & Trust’s holdings in SPDR Gold Shares were worth $6,793,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the business. Modern Wealth Management LLC grew its holdings in shares of SPDR Gold Shares by 39.4% in the fourth quarter. Modern Wealth Management LLC now owns 9,301 shares of the exchange traded fund’s stock worth $2,496,000 after purchasing an additional 2,631 shares during the last quarter. Grantvest Financial Group LLC bought a new position in shares of SPDR Gold Shares during the fourth quarter valued at about $409,000. Lynx Investment Advisory raised its stake in shares of SPDR Gold Shares by 10.4% during the fourth quarter. Lynx Investment Advisory now owns 17,735 shares of the exchange traded fund’s stock valued at $4,294,000 after acquiring an additional 1,669 shares during the last quarter. Congress Wealth Management LLC DE boosted its holdings in shares of SPDR Gold Shares by 5.8% during the fourth quarter. Congress Wealth Management LLC DE now owns 21,441 shares of the exchange traded fund’s stock worth $5,192,000 after purchasing an additional 1,181 shares during the period. Finally, Crowley Wealth Management Inc. bought a new stake in shares of SPDR Gold Shares in the fourth quarter worth about $564,000. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares Stock Performance

Shares of GLD stock opened at $277.25 on Tuesday. SPDR Gold Shares has a fifty-two week low of $200.97 and a fifty-two week high of $281.48. The firm has a market cap of $83.34 billion, a P/E ratio of -29.30 and a beta of 0.20. The business’s 50 day moving average price is $265.10 and its 200-day moving average price is $251.67.

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).