USAdvisors Wealth Management LLC Sells 8,231 Shares of SPDR Gold Shares $GLD

USAdvisors Wealth Management LLC trimmed its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 84.6% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 1,494 shares of the exchange traded fund’s stock after selling 8,231 shares during the quarter. USAdvisors Wealth Management LLC’s holdings in SPDR Gold Shares were worth $455,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Raymond James Financial Inc. grew its holdings in SPDR Gold Shares by 11.0% during the 1st quarter. Raymond James Financial Inc. now owns 2,063,634 shares of the exchange traded fund’s stock valued at $594,616,000 after purchasing an additional 204,676 shares during the last quarter. Ameriprise Financial Inc. grew its stake in SPDR Gold Shares by 12.2% in the 1st quarter. Ameriprise Financial Inc. now owns 1,556,698 shares of the exchange traded fund’s stock worth $450,902,000 after acquiring an additional 169,005 shares in the last quarter. 59 North Capital Management LP grew its stake in SPDR Gold Shares by 76.4% in the 1st quarter. 59 North Capital Management LP now owns 1,263,196 shares of the exchange traded fund’s stock worth $363,977,000 after acquiring an additional 547,018 shares in the last quarter. Envestnet Asset Management Inc. grew its stake in SPDR Gold Shares by 9.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,217,861 shares of the exchange traded fund’s stock worth $350,914,000 after acquiring an additional 106,648 shares in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in SPDR Gold Shares by 16.5% in the 1st quarter. Commonwealth Equity Services LLC now owns 1,141,703 shares of the exchange traded fund’s stock worth $328,970,000 after acquiring an additional 161,638 shares in the last quarter. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Price Performance

Shares of GLD stock opened at $357.64 on Friday. The company has a market capitalization of $126.50 billion, a P/E ratio of -32.43 and a beta of 0.15. The company’s 50-day simple moving average is $324.54 and its two-hundred day simple moving average is $309.70. SPDR Gold Shares has a one year low of $236.13 and a one year high of $358.67.

SPDR Gold Shares Company 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).