Narwhal Capital Management Trims Stock Position in SPDR Gold Shares $GLD

Narwhal Capital Management lessened its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 27.3% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 10,440 shares of the exchange traded fund’s stock after selling 3,919 shares during the period. Narwhal Capital Management’s holdings in SPDR Gold Shares were worth $3,182,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of the business. Raymond James Financial Inc. boosted its holdings in shares of 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 valued at $594,616,000 after buying an additional 204,676 shares in the last quarter. Ameriprise Financial Inc. grew its position in SPDR Gold Shares by 12.2% during the 1st quarter. Ameriprise Financial Inc. now owns 1,556,698 shares of the exchange traded fund’s stock valued at $450,902,000 after purchasing an additional 169,005 shares during the last quarter. 59 North Capital Management LP grew its position in SPDR Gold Shares by 76.4% during the 1st 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 purchasing an additional 547,018 shares during the last quarter. Envestnet Asset Management Inc. grew its position in SPDR Gold Shares by 9.6% during the 1st quarter. Envestnet Asset Management Inc. now owns 1,217,861 shares of the exchange traded fund’s stock valued at $350,914,000 after purchasing an additional 106,648 shares during the last quarter. Finally, Commonwealth Equity Services LLC lifted its stake 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 valued at $328,970,000 after acquiring an additional 161,638 shares during the period. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 1.6%

Shares of NYSEARCA:GLD opened at $372.30 on Thursday. The firm’s 50 day moving average price is $328.35 and its 200-day moving average price is $311.32. The stock has a market capitalization of $132.46 billion, a PE ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a twelve month low of $236.13 and a twelve month high of $373.57.

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).