Townsend & Associates Inc Lowers Position in SPDR Gold Shares $GLD

Townsend & Associates Inc reduced its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 18.1% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 102,174 shares of the exchange traded fund’s stock after selling 22,531 shares during the period. SPDR Gold Shares makes up approximately 3.1% of Townsend & Associates Inc’s portfolio, making the stock its 12th largest position. Townsend & Associates Inc’s holdings in SPDR Gold Shares were worth $31,408,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. American National Bank & Trust grew its holdings in SPDR Gold Shares by 52.4% during the second quarter. American National Bank & Trust now owns 291 shares of the exchange traded fund’s stock worth $89,000 after acquiring an additional 100 shares during the period. StrongBox Wealth LLC grew its stake in shares of SPDR Gold Shares by 10.1% during the 2nd quarter. StrongBox Wealth LLC now owns 1,487 shares of the exchange traded fund’s stock worth $453,000 after purchasing an additional 136 shares during the period. TD Private Client Wealth LLC increased its holdings in shares of SPDR Gold Shares by 14.6% in the 2nd quarter. TD Private Client Wealth LLC now owns 51,235 shares of the exchange traded fund’s stock valued at $15,618,000 after purchasing an additional 6,540 shares in the last quarter. Beaumont Financial Advisors LLC lifted its stake in shares of SPDR Gold Shares by 6.5% in the second quarter. Beaumont Financial Advisors LLC now owns 3,509 shares of the exchange traded fund’s stock valued at $1,070,000 after purchasing an additional 215 shares during the period. Finally, Mather Group LLC. lifted its stake in shares of SPDR Gold Shares by 1.8% in the second quarter. Mather Group LLC. now owns 1,946 shares of the exchange traded fund’s stock valued at $593,000 after purchasing an additional 34 shares during the period. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Trading Down 1.9%

GLD stock opened at $388.99 on Monday. The company’s 50-day moving average price is $338.26 and its 200 day moving average price is $316.48. SPDR Gold Shares has a 52 week low of $236.13 and a 52 week high of $397.28. The company has a market cap of $138.95 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).