Biltmore Wealth Management LLC Sells 317 Shares of SPDR Gold Shares (NYSEARCA:GLD)

Biltmore Wealth Management LLC lessened its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 1.0% in the first quarter, Holdings Channel reports. The firm owned 31,315 shares of the exchange traded fund’s stock after selling 317 shares during the period. SPDR Gold Shares accounts for 3.8% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 11th largest holding. Biltmore Wealth Management LLC’s holdings in SPDR Gold Shares were worth $9,023,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of GLD. Proficio Capital Partners LLC lifted its holdings in SPDR Gold Shares by 24,245.2% during the fourth quarter. Proficio Capital Partners LLC now owns 60,753,703 shares of the exchange traded fund’s stock valued at $14,710,294,000 after purchasing an additional 60,504,152 shares during the last quarter. Raymond James Financial Inc. bought a new position in SPDR Gold Shares in the 4th quarter worth about $450,109,000. Leigh Baldwin & CO. LLC bought a new position in SPDR Gold Shares in the 4th quarter worth about $401,829,000. Wealthfront Advisers LLC boosted its stake in SPDR Gold Shares by 1,374.2% in the 4th quarter. Wealthfront Advisers LLC now owns 1,121,579 shares of the exchange traded fund’s stock worth $271,568,000 after purchasing an additional 1,045,499 shares during the period. Finally, Mizuho Bank Ltd. bought a new position in SPDR Gold Shares in the 4th quarter worth about $145,278,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 1.3%

Shares of NYSEARCA GLD opened at $316.29 on Friday. SPDR Gold Shares has a 52 week low of $212.12 and a 52 week high of $317.63. The business has a 50-day simple moving average of $303.57 and a two-hundred day simple moving average of $274.89. The company has a market cap of $103.43 billion, a P/E ratio of -32.43 and a beta of 0.11.

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).