Palumbo Wealth Management LLC Has $13.18 Million Stock Holdings in SPDR Gold Shares (NYSEARCA:GLD)

Palumbo Wealth Management LLC cut its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 3.0% during the third quarter, HoldingsChannel reports. The firm owned 54,241 shares of the exchange traded fund’s stock after selling 1,690 shares during the period. SPDR Gold Shares comprises 5.1% of Palumbo Wealth Management LLC’s investment portfolio, making the stock its 2nd biggest position. Palumbo Wealth Management LLC’s holdings in SPDR Gold Shares were worth $13,184,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. International Assets Investment Management LLC boosted its holdings in SPDR Gold Shares by 21,571.1% in the 3rd quarter. International Assets Investment Management LLC now owns 3,024,639 shares of the exchange traded fund’s stock valued at $735,169,000 after purchasing an additional 3,010,682 shares during the period. Toronto Dominion Bank grew its position in SPDR Gold Shares by 23.6% during the first quarter. Toronto Dominion Bank now owns 5,649,510 shares of the exchange traded fund’s stock worth $1,162,217,000 after buying an additional 1,079,452 shares in the last quarter. Arizona PSPRS Trust bought a new position in SPDR Gold Shares during the second quarter valued at about $157,187,000. Cetera Investment Advisers raised its holdings in SPDR Gold Shares by 461.0% in the 1st quarter. Cetera Investment Advisers now owns 702,415 shares of the exchange traded fund’s stock valued at $144,501,000 after acquiring an additional 577,210 shares in the last quarter. Finally, Strategic Financial Concepts LLC raised its holdings in SPDR Gold Shares by 9,654.6% in the 2nd quarter. Strategic Financial Concepts LLC now owns 550,450 shares of the exchange traded fund’s stock valued at $1,184,000 after acquiring an additional 544,807 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of NYSEARCA:GLD traded down $3.60 during trading on Thursday, hitting $253.90. 2,586,580 shares of the stock were exchanged, compared to its average volume of 6,944,952. SPDR Gold Shares has a 1-year low of $179.11 and a 1-year high of $257.71. The company’s fifty day simple moving average is $241.54 and its 200-day simple moving average is $227.15.

SPDR Gold Shares Company 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).