SPDR Gold Shares (NYSEARCA:GLD) Shares Sold by Sovereign Financial Group Inc.

Sovereign Financial Group Inc. cut its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 5.5% during the fourth quarter, HoldingsChannel reports. The fund owned 6,480 shares of the exchange traded fund’s stock after selling 380 shares during the period. Sovereign Financial Group Inc.’s holdings in SPDR Gold Shares were worth $1,569,000 at the end of the most recent quarter.

Other hedge funds also recently added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in SPDR Gold Shares by 21,571.1% in the third quarter. International Assets Investment Management LLC now owns 3,024,639 shares of the exchange traded fund’s stock valued at $735,169,000 after purchasing an additional 3,010,682 shares during the period. Cerity Partners OCIO LLC purchased a new stake in SPDR Gold Shares in the 2nd quarter valued at about $78,434,000. AlTi Global Inc. lifted its position in SPDR Gold Shares by 145.0% in the second quarter. AlTi Global Inc. now owns 335,937 shares of the exchange traded fund’s stock valued at $72,212,000 after buying an additional 198,823 shares during the last quarter. Sumitomo Mitsui Trust Group Inc. boosted its stake in SPDR Gold Shares by 47.5% during the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 454,153 shares of the exchange traded fund’s stock worth $110,386,000 after buying an additional 146,271 shares during the period. Finally, Banco Santander S.A. increased its position in shares of SPDR Gold Shares by 245.1% during the third quarter. Banco Santander S.A. now owns 160,721 shares of the exchange traded fund’s stock valued at $39,065,000 after acquiring an additional 114,151 shares during the last quarter. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Price Performance

SPDR Gold Shares stock opened at $247.03 on Wednesday. The company’s 50 day simple moving average is $243.74 and its 200-day simple moving average is $237.81. SPDR Gold Shares has a 1 year low of $183.78 and a 1 year high of $257.71.

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).