Marks Group Wealth Management Inc Decreases Stake in SPDR Gold Shares $GLD

Marks Group Wealth Management Inc reduced its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 8.5% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,404 shares of the exchange traded fund’s stock after selling 130 shares during the period. Marks Group Wealth Management Inc’s holdings in SPDR Gold Shares were worth $428,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Raymond James Financial Inc. lifted its position in SPDR Gold Shares by 11.0% during the 1st quarter. Raymond James Financial Inc. now owns 2,063,634 shares of the exchange traded fund’s stock worth $594,616,000 after acquiring an additional 204,676 shares during the period. Ameriprise Financial Inc. lifted its holdings in shares of SPDR Gold Shares by 12.2% during the first quarter. Ameriprise Financial Inc. now owns 1,556,698 shares of the exchange traded fund’s stock worth $450,902,000 after purchasing an additional 169,005 shares during the period. 59 North Capital Management LP boosted its position in SPDR Gold Shares by 76.4% in the first quarter. 59 North Capital Management LP now owns 1,263,196 shares of the exchange traded fund’s stock valued at $363,977,000 after buying an additional 547,018 shares during the last quarter. Envestnet Asset Management Inc. increased its holdings in SPDR Gold Shares by 9.6% in the 1st quarter. Envestnet Asset Management Inc. now owns 1,217,861 shares of the exchange traded fund’s stock worth $350,914,000 after buying an additional 106,648 shares during the period. Finally, Commonwealth Equity Services LLC raised its position in SPDR Gold Shares by 16.5% during the 1st quarter. Commonwealth Equity Services LLC now owns 1,141,703 shares of the exchange traded fund’s stock worth $328,970,000 after buying an additional 161,638 shares during the last quarter. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares Price Performance

Shares of SPDR Gold Shares stock opened at $364.38 on Tuesday. The firm has a fifty day moving average price of $325.72 and a 200 day moving average price of $310.51. SPDR Gold Shares has a 1 year low of $236.13 and a 1 year high of $365.30. The stock has a market cap of $129.65 billion, a PE ratio of -32.43 and a beta of 0.15.

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).