GeoWealth Management LLC Lowers Holdings in SPDR Gold Shares (NYSEARCA:GLD)

GeoWealth Management LLC lowered its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 5.6% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 12,259 shares of the exchange traded fund’s stock after selling 734 shares during the quarter. GeoWealth Management LLC’s holdings in SPDR Gold Shares were worth $2,968,000 as of its most recent filing with the SEC.

Several other hedge funds also recently made changes to their positions in the company. Proficio Capital Partners LLC lifted its holdings in SPDR Gold Shares by 24,245.2% in 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 acquiring an additional 60,504,152 shares during the period. Raymond James Financial Inc. purchased a new stake in SPDR Gold Shares during the fourth quarter worth about $450,109,000. Wealthfront Advisers LLC grew its position in SPDR Gold Shares by 1,374.2% during the fourth quarter. Wealthfront Advisers LLC now owns 1,121,579 shares of the exchange traded fund’s stock worth $271,568,000 after buying an additional 1,045,499 shares during the period. Strategic Financial Concepts LLC increased its holdings in SPDR Gold Shares by 24,600.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 608,876 shares of the exchange traded fund’s stock valued at $147,427,000 after buying an additional 606,411 shares in the last quarter. Finally, Mizuho Bank Ltd. acquired a new stake in shares of SPDR Gold Shares during the 4th quarter valued at approximately $145,278,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of NYSEARCA:GLD opened at $306.12 on Friday. The firm has a market capitalization of $92.02 billion, a price-to-earnings ratio of -30.67 and a beta of 0.17. The business’s 50 day simple moving average is $278.32 and its 200-day simple moving average is $258.47. SPDR Gold Shares has a 12 month low of $210.71 and a 12 month high of $308.06.

About SPDR Gold Shares

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).