New Wave Wealth Advisors LLC Trims Stock Position in SPDR Gold Shares $GLD

New Wave Wealth Advisors LLC lessened its stake in SPDR Gold Shares (NYSEARCA:GLD) by 50.2% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,706 shares of the exchange traded fund’s stock after selling 3,729 shares during the period. New Wave Wealth Advisors LLC’s holdings in SPDR Gold Shares were worth $1,130,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Raymond James Financial Inc. grew its stake in SPDR Gold Shares by 11.0% in 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 buying an additional 204,676 shares in the last quarter. Ameriprise Financial Inc. grew its stake in SPDR Gold Shares by 12.2% in the 1st quarter. Ameriprise Financial Inc. now owns 1,556,698 shares of the exchange traded fund’s stock worth $450,902,000 after buying an additional 169,005 shares in the last quarter. 59 North Capital Management LP grew its stake in SPDR Gold Shares by 76.4% in the 1st quarter. 59 North Capital Management LP now owns 1,263,196 shares of the exchange traded fund’s stock worth $363,977,000 after buying an additional 547,018 shares in the last quarter. Envestnet Asset Management Inc. grew its stake 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 in the last quarter. Finally, Commonwealth Equity Services LLC grew its stake in SPDR Gold Shares by 16.5% in 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 in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

Shares of GLD opened at $356.03 on Thursday. The firm has a market cap of $118.70 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a fifty-two week low of $236.13 and a fifty-two week high of $356.97. The firm has a 50 day moving average price of $322.65 and a 200-day moving average price of $308.43.

SPDR Gold Shares Company 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).