Sfmg LLC Cuts Position in SPDR Gold Shares (NYSEARCA:GLD)

Sfmg LLC reduced its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 5.2% in the fourth quarter, HoldingsChannel reports. The firm owned 16,322 shares of the exchange traded fund’s stock after selling 895 shares during the period. Sfmg LLC’s holdings in SPDR Gold Shares were worth $3,120,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Miracle Mile Advisors LLC grew its holdings in shares of SPDR Gold Shares by 33.8% during the fourth quarter. Miracle Mile Advisors LLC now owns 2,401 shares of the exchange traded fund’s stock valued at $459,000 after buying an additional 607 shares during the last quarter. Syon Capital LLC purchased a new stake in SPDR Gold Shares during the 3rd quarter valued at about $6,972,000. Raymond James & Associates increased its holdings in shares of SPDR Gold Shares by 0.5% in the fourth quarter. Raymond James & Associates now owns 844,620 shares of the exchange traded fund’s stock valued at $161,466,000 after purchasing an additional 4,242 shares during the period. Marks Wealth LLC purchased a new position in shares of SPDR Gold Shares in the fourth quarter worth about $33,299,000. Finally, Planned Solutions Inc. acquired a new stake in shares of SPDR Gold Shares during the fourth quarter worth about $65,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

NYSEARCA:GLD traded down $0.59 during midday trading on Wednesday, hitting $220.63. The company’s stock had a trading volume of 4,725,591 shares, compared to its average volume of 7,805,808. SPDR Gold Shares has a fifty-two week low of $168.30 and a fifty-two week high of $225.09. The firm’s 50 day moving average is $199.63 and its 200-day moving average is $190.06.

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).