Drake & Associates LLC Decreases Stock Holdings in SPDR Gold Shares $GLD

Drake & Associates LLC lessened its stake in SPDR Gold Shares (NYSEARCA:GLD) by 92.6% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 2,600 shares of the exchange traded fund’s stock after selling 32,422 shares during the period. Drake & Associates LLC’s holdings in SPDR Gold Shares were worth $793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also modified their holdings of GLD. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of SPDR Gold Shares during the first quarter worth $30,000. Stone House Investment Management LLC purchased a new position in SPDR Gold Shares during the 1st quarter worth $34,000. Columbia River Financial Group LLC acquired a new position in SPDR Gold Shares during the 1st quarter valued at about $34,000. Legacy Wealth Managment LLC ID raised its stake in 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 last quarter. Finally, HWG Holdings LP acquired a new stake in SPDR Gold Shares in the first quarter worth about $53,000. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

Shares of GLD stock opened at $364.38 on Tuesday. SPDR Gold Shares has a fifty-two week low of $236.13 and a fifty-two week high of $365.30. The firm has a market capitalization of $129.65 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. The stock’s 50-day simple moving average is $325.72 and its 200-day simple moving average is $310.51.

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).