Wealth Effects LLC Sells 1,029 Shares of SPDR Gold Shares $GLD

Wealth Effects LLC reduced its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 42.7% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,379 shares of the exchange traded fund’s stock after selling 1,029 shares during the period. Wealth Effects LLC’s holdings in SPDR Gold Shares were worth $420,000 at the end of the most recent reporting period.

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

SPDR Gold Shares Stock Up 0.4%

Shares of SPDR Gold Shares stock opened at $346.46 on Wednesday. The company has a market capitalization of $115.51 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. The stock’s 50-day simple moving average is $317.99 and its 200-day simple moving average is $305.41. SPDR Gold Shares has a 52 week low of $236.13 and a 52 week high of $348.75.

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).