Cedar Wealth Management LLC Cuts Stake in SPDR Gold Shares (NYSEARCA:GLD)

Cedar Wealth Management LLC cut its stake in SPDR Gold Shares (NYSEARCA:GLD) by 30.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,437 shares of the exchange traded fund’s stock after selling 619 shares during the quarter. Cedar Wealth Management LLC’s holdings in SPDR Gold Shares were worth $348,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Raymond James Trust N.A. grew its stake in shares of SPDR Gold Shares by 3.2% during the third quarter. Raymond James Trust N.A. now owns 14,156 shares of the exchange traded fund’s stock valued at $3,441,000 after acquiring an additional 436 shares in the last quarter. Allen Capital Group LLC boosted its stake in SPDR Gold Shares by 2.0% in the third quarter. Allen Capital Group LLC now owns 2,980 shares of the exchange traded fund’s stock valued at $724,000 after acquiring an additional 58 shares during the period. GenTrust LLC raised its holdings in shares of SPDR Gold Shares by 525.2% during the third quarter. GenTrust LLC now owns 47,496 shares of the exchange traded fund’s stock valued at $11,544,000 after buying an additional 39,899 shares during the last quarter. Camden National Bank raised its holdings in shares of SPDR Gold Shares by 2.4% during the third quarter. Camden National Bank now owns 3,814 shares of the exchange traded fund’s stock valued at $927,000 after buying an additional 90 shares during the last quarter. Finally, Flagstar Advisors Inc. raised its holdings in SPDR Gold Shares by 2.6% during the third quarter. Flagstar Advisors Inc. now owns 9,118 shares of the exchange traded fund’s stock worth $2,216,000 after purchasing an additional 229 shares in the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Price Performance

Shares of NYSEARCA:GLD opened at $278.49 on Friday. The stock has a market cap of $83.71 billion, a price-to-earnings ratio of -29.30 and a beta of 0.20. SPDR Gold Shares has a 12 month low of $200.97 and a 12 month high of $281.48. The stock’s 50 day moving average price is $264.47 and its 200 day moving average price is $251.20.

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).