First Horizon Advisors Inc. cut its position in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 3.0% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 129,483 shares of the exchange traded fund’s stock after selling 4,014 shares during the period. SPDR Gold Shares accounts for about 0.8% of First Horizon Advisors Inc.’s investment portfolio, making the stock its 27th biggest position. First Horizon Advisors Inc.’s holdings in SPDR Gold Shares were worth $23,724,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLD. Sei Investments Co. acquired a new position in SPDR Gold Shares in the first quarter valued at about $24,420,000. Covestor Ltd lifted its position in shares of SPDR Gold Shares by 69.4% during the first quarter. Covestor Ltd now owns 532 shares of the exchange traded fund’s stock worth $96,000 after purchasing an additional 218 shares in the last quarter. Merit Financial Group LLC lifted its position in shares of SPDR Gold Shares by 18.6% during the first quarter. Merit Financial Group LLC now owns 2,773 shares of the exchange traded fund’s stock worth $501,000 after purchasing an additional 435 shares in the last quarter. First Western Trust Bank acquired a new position in shares of SPDR Gold Shares during the first quarter worth approximately $256,000. Finally, Prudential Financial Inc. lifted its position in shares of SPDR Gold Shares by 32.5% during the first quarter. Prudential Financial Inc. now owns 36,898 shares of the exchange traded fund’s stock worth $6,666,000 after purchasing an additional 9,049 shares in the last quarter. 40.99% of the stock is currently owned by institutional investors and hedge funds.
SPDR Gold Shares Price Performance
Shares of GLD stock traded down $0.98 during trading hours on Tuesday, reaching $177.43. 1,869,620 shares of the company were exchanged, compared to its average volume of 6,968,554. SPDR Gold Shares has a fifty-two week low of $150.57 and a fifty-two week high of $191.36. The stock’s fifty day moving average is $179.34 and its two-hundred day moving average is $180.90.
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).
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