SPDR Gold Shares (NYSEARCA:GLD) is Palumbo Wealth Management LLC’s 3rd Largest Position

Palumbo Wealth Management LLC lowered its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 0.1% in the fourth quarter, HoldingsChannel.com reports. The firm owned 54,198 shares of the exchange traded fund’s stock after selling 43 shares during the period. SPDR Gold Shares accounts for approximately 4.9% of Palumbo Wealth Management LLC’s portfolio, making the stock its 3rd largest holding. Palumbo Wealth Management LLC’s holdings in SPDR Gold Shares were worth $13,123,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently made changes to their positions in GLD. Ashton Thomas Securities LLC purchased a new position in shares of SPDR Gold Shares during the 3rd quarter worth approximately $28,000. Roxbury Financial LLC purchased a new position in SPDR Gold Shares in the 4th quarter valued at approximately $31,000. PayPay Securities Corp boosted its position in SPDR Gold Shares by 55.3% in the 4th quarter. PayPay Securities Corp now owns 132 shares of the exchange traded fund’s stock valued at $32,000 after buying an additional 47 shares during the period. Capital Performance Advisors LLP purchased a new position in SPDR Gold Shares in the 3rd quarter valued at approximately $35,000. Finally, Pittenger & Anderson Inc. purchased a new position in SPDR Gold Shares in the 3rd quarter valued at approximately $38,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of GLD stock opened at $266.29 on Friday. SPDR Gold Shares has a 52 week low of $184.84 and a 52 week high of $270.39. The firm has a 50 day moving average of $250.74 and a two-hundred day moving average of $243.57.

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).