Covington Capital Management Invests $4.97 Million in SPDR Gold Trust (GLD) Stock

Covington Capital Management bought a new position in SPDR Gold Trust (NYSEARCA:GLD) in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 42,100 shares of the exchange traded fund’s stock, valued at approximately $4,969,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Blume Capital Management Inc. boosted its stake in shares of SPDR Gold Trust by 30.8% during the second quarter. Blume Capital Management Inc. now owns 850 shares of the exchange traded fund’s stock valued at $100,000 after purchasing an additional 200 shares during the period. FTB Advisors Inc. boosted its stake in shares of SPDR Gold Trust by 3.1% during the second quarter. FTB Advisors Inc. now owns 854 shares of the exchange traded fund’s stock valued at $100,000 after purchasing an additional 26 shares during the period. QCI Asset Management Inc. NY boosted its stake in shares of SPDR Gold Trust by 14.9% during the second quarter. QCI Asset Management Inc. NY now owns 1,155 shares of the exchange traded fund’s stock valued at $136,000 after purchasing an additional 150 shares during the period. CI Global Investments Inc. purchased a new stake in shares of SPDR Gold Trust during the second quarter valued at approximately $150,000. Finally, Cornerstone Advisory LLP purchased a new stake in shares of SPDR Gold Trust during the second quarter valued at approximately $201,000.

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SPDR Gold Trust 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).

Institutional Ownership by Quarter for SPDR Gold Trust (NYSEARCA:GLD)

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