Cadence Wealth Management LLC Cuts Holdings in SPDR Gold Shares (NYSEARCA:GLD)

Cadence Wealth Management LLC lowered its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 15.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 53,788 shares of the exchange traded fund’s stock after selling 9,682 shares during the quarter. SPDR Gold Shares comprises 8.6% of Cadence Wealth Management LLC’s investment portfolio, making the stock its 4th biggest holding. Cadence Wealth Management LLC’s holdings in SPDR Gold Shares were worth $13,024,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Roxbury Financial LLC acquired a new position in shares of SPDR Gold Shares during the fourth quarter valued at about $31,000. PayPay Securities Corp raised its holdings in shares of SPDR Gold Shares by 55.3% in the 4th quarter. PayPay Securities Corp now owns 132 shares of the exchange traded fund’s stock worth $32,000 after acquiring an additional 47 shares during the last quarter. Compass Planning Associates Inc acquired a new stake in shares of SPDR Gold Shares in the 4th quarter worth about $39,000. Keystone Financial Group Inc. acquired a new stake in shares of SPDR Gold Shares in the 4th quarter worth about $39,000. Finally, SOA Wealth Advisors LLC. raised its holdings in shares of SPDR Gold Shares by 54.0% in the 3rd quarter. SOA Wealth Advisors LLC. now owns 194 shares of the exchange traded fund’s stock worth $47,000 after acquiring an additional 68 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

GLD opened at $276.73 on Tuesday. SPDR Gold Shares has a fifty-two week low of $198.94 and a fifty-two week high of $279.26. The company’s 50-day moving average is $261.76 and its 200 day moving average is $249.96. The firm has a market capitalization of $83.19 billion, a PE ratio of -29.30 and a beta of 0.20.

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).