SPDR Gold Shares (NYSEARCA:GLD) is David R. Rahn & Associates Inc.’s 5th Largest Position

David R. Rahn & Associates Inc. reduced its stake in SPDR Gold Shares (NYSEARCA:GLD) by 3.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 62,257 shares of the exchange traded fund’s stock after selling 2,366 shares during the period. SPDR Gold Shares accounts for about 5.9% of David R. Rahn & Associates Inc.’s holdings, making the stock its 5th biggest position. David R. Rahn & Associates Inc.’s holdings in SPDR Gold Shares were worth $11,407,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLD. Tucker Asset Management LLC acquired a new stake in shares of SPDR Gold Shares in the first quarter valued at approximately $25,000. Graham Capital Wealth Management LLC acquired a new stake in shares of SPDR Gold Shares during the first quarter worth about $263,837,000. Mendota Financial Group LLC acquired a new position in SPDR Gold Shares in the 1st quarter valued at about $27,000. Freedom Wealth Alliance LLC purchased a new stake in SPDR Gold Shares during the 4th quarter valued at approximately $28,000. Finally, NewSquare Capital LLC lifted its position in SPDR Gold Shares by 781.8% during the 1st quarter. NewSquare Capital LLC now owns 194 shares of the exchange traded fund’s stock worth $36,000 after acquiring an additional 172 shares during the period. Institutional investors and hedge funds own 40.99% of the company’s stock.

SPDR Gold Shares Trading Up 0.0 %

Shares of GLD stock traded up $0.06 during midday trading on Friday, hitting $178.08. The company had a trading volume of 3,293,699 shares, compared to its average volume of 5,915,148. The company’s 50 day simple moving average is $179.35 and its 200 day simple moving average is $180.76. SPDR Gold Shares has a 52-week low of $150.57 and a 52-week high of $191.36.

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).