Meritage Portfolio Management Cuts Position in SPDR Gold Shares (NYSEARCA:GLD)

Meritage Portfolio Management cut its stake in SPDR Gold Shares (NYSEARCA:GLD) by 22.8% in the 4th quarter, Holdings Channel reports. The fund owned 1,970 shares of the exchange traded fund’s stock after selling 582 shares during the quarter. Meritage Portfolio Management’s holdings in SPDR Gold Shares were worth $377,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Compass Ion Advisors LLC lifted its stake in SPDR Gold Shares by 0.7% in the fourth quarter. Compass Ion Advisors LLC now owns 8,313 shares of the exchange traded fund’s stock worth $1,589,000 after purchasing an additional 54 shares during the last quarter. Capital Market Strategies LLC lifted its stake in SPDR Gold Shares by 4.6% in the fourth quarter. Capital Market Strategies LLC now owns 1,247 shares of the exchange traded fund’s stock worth $238,000 after purchasing an additional 55 shares during the last quarter. JB Capital LLC lifted its stake in SPDR Gold Shares by 2.4% in the fourth quarter. JB Capital LLC now owns 2,379 shares of the exchange traded fund’s stock worth $455,000 after purchasing an additional 55 shares during the last quarter. IAG Wealth Partners LLC lifted its stake in SPDR Gold Shares by 9.5% in the third quarter. IAG Wealth Partners LLC now owns 648 shares of the exchange traded fund’s stock worth $111,000 after purchasing an additional 56 shares during the last quarter. Finally, Financial Sense Advisors Inc. lifted its stake in SPDR Gold Shares by 2.0% in the third quarter. Financial Sense Advisors Inc. now owns 2,891 shares of the exchange traded fund’s stock worth $496,000 after purchasing an additional 56 shares during the last quarter. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

SPDR Gold Shares stock traded up $0.64 during mid-day trading on Friday, hitting $216.56. The company’s stock had a trading volume of 4,469,355 shares, compared to its average volume of 7,908,403. The business has a 50 day moving average price of $203.95 and a 200-day moving average price of $192.11. SPDR Gold Shares has a 12 month low of $168.30 and a 12 month high of $225.09.

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).