Sheets Smith Wealth Management Reduces Position in SPDR Gold Shares $GLD

Sheets Smith Wealth Management decreased its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 1.9% in the second quarter, HoldingsChannel reports. The fund owned 10,431 shares of the exchange traded fund’s stock after selling 200 shares during the quarter. Sheets Smith Wealth Management’s holdings in SPDR Gold Shares were worth $3,180,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. DAVENPORT & Co LLC grew its holdings in SPDR Gold Shares by 105.3% during the first quarter. DAVENPORT & Co LLC now owns 45,496 shares of the exchange traded fund’s stock valued at $13,109,000 after purchasing an additional 896,836 shares during the period. 59 North Capital Management LP lifted its position in shares of SPDR Gold Shares by 76.4% during the 1st quarter. 59 North Capital Management LP now owns 1,263,196 shares of the exchange traded fund’s stock valued at $363,977,000 after buying an additional 547,018 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in shares of SPDR Gold Shares by 604.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 548,947 shares of the exchange traded fund’s stock valued at $158,174,000 after acquiring an additional 471,032 shares during the period. Kingstone Capital Partners Texas LLC purchased a new stake in SPDR Gold Shares in the 2nd quarter worth approximately $120,429,000. Finally, Raymond James Financial Inc. raised its stake in SPDR Gold Shares by 11.0% during the 1st quarter. Raymond James Financial Inc. now owns 2,063,634 shares of the exchange traded fund’s stock worth $594,616,000 after acquiring an additional 204,676 shares during the period. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares Price Performance

Shares of NYSEARCA:GLD opened at $346.46 on Wednesday. The company has a market capitalization of $115.51 billion, a P/E ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 1-year low of $236.13 and a 1-year high of $348.75. The firm’s 50 day simple moving average is $317.99 and its two-hundred day simple moving average is $305.41.

SPDR Gold Shares 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).