SteelPeak Wealth LLC Decreases Stock Holdings in SPDR Gold Shares (NYSEARCA:GLD)

SteelPeak Wealth LLC lessened its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 56.5% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,586 shares of the exchange traded fund’s stock after selling 2,060 shares during the period. SteelPeak Wealth LLC’s holdings in SPDR Gold Shares were worth $341,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. Frazier Financial Advisors LLC purchased a new stake in shares of SPDR Gold Shares in the fourth quarter valued at about $26,000. Northwest Investment Counselors LLC purchased a new position in shares of SPDR Gold Shares during the first quarter valued at approximately $26,000. Gold Investment Management Ltd. purchased a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $27,000. Security National Bank purchased a new position in shares of SPDR Gold Shares during the first quarter valued at approximately $28,000. Finally, Naples Money Management LLC purchased a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $31,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

Shares of GLD traded up $3.63 on Friday, hitting $230.54. 1,036,993 shares of the stock traded hands, compared to its average volume of 7,159,452. The stock’s 50 day moving average is $219.98 and its two-hundred day moving average is $210.68. SPDR Gold Shares has a 1 year low of $168.30 and a 1 year high of $230.70.

SPDR Gold Shares 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).