WorthPointe LLC Cuts Stock Holdings in SPDR Gold Shares $GLD

WorthPointe LLC lessened its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 42.5% during the third quarter, Holdings Channel.com reports. The firm owned 5,949 shares of the exchange traded fund’s stock after selling 4,390 shares during the quarter. SPDR Gold Shares makes up 0.8% of WorthPointe LLC’s investment portfolio, making the stock its 21st largest position. WorthPointe LLC’s holdings in SPDR Gold Shares were worth $2,115,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Chapman Financial Group LLC acquired a new position in SPDR Gold Shares during the second quarter worth $26,000. Kilter Group LLC acquired a new position in shares of SPDR Gold Shares during the 2nd quarter worth $34,000. Traub Capital Management LLC purchased a new position in shares of SPDR Gold Shares in the 2nd quarter valued at about $34,000. Legacy Wealth Managment LLC ID lifted its stake in shares of SPDR Gold Shares by 51.1% in the first quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the exchange traded fund’s stock valued at $39,000 after purchasing an additional 46 shares during the period. Finally, First Command Advisory Services Inc. purchased a new stake in SPDR Gold Shares during the second quarter worth about $43,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 1.2%

Shares of SPDR Gold Shares stock opened at $416.74 on Monday. SPDR Gold Shares has a 12-month low of $239.58 and a 12-month high of $418.45. The stock has a market cap of $150.82 billion, a PE ratio of -32.43 and a beta of 0.09. The company has a 50-day moving average of $384.10 and a two-hundred day moving average of $345.66.

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). The Trust issues Shares in Baskets to certain authorized participants (Authorized Participants) on an ongoing basis. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of gold and any cash represented by the Baskets being created or redeemed, the amount of which will be based on the combined net asset value of various Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.