Sequoia Financial Advisors LLC Sells 4,314 Shares of SPDR Gold Shares (NYSEARCA:GLD)

Sequoia Financial Advisors LLC decreased its position in SPDR Gold Shares (NYSEARCA:GLD) by 0.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 459,960 shares of the exchange traded fund’s stock after selling 4,314 shares during the quarter. SPDR Gold Shares makes up 1.1% of Sequoia Financial Advisors LLC’s portfolio, making the stock its 14th biggest position. Sequoia Financial Advisors LLC owned approximately 0.15% of SPDR Gold Shares worth $111,370,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in GLD. Ashton Thomas Securities LLC purchased a new position in SPDR Gold Shares during the 3rd quarter valued at about $28,000. Patten & Patten Inc. TN increased its stake in shares of SPDR Gold Shares by 2.1% during the third quarter. Patten & Patten Inc. TN now owns 4,328 shares of the exchange traded fund’s stock valued at $1,052,000 after purchasing an additional 89 shares in the last quarter. Fountainhead AM LLC lifted its holdings in shares of SPDR Gold Shares by 20.7% during the third quarter. Fountainhead AM LLC now owns 1,332 shares of the exchange traded fund’s stock valued at $324,000 after purchasing an additional 228 shares during the last quarter. Jeppson Wealth Management LLC boosted its position in shares of SPDR Gold Shares by 5.4% in the 3rd quarter. Jeppson Wealth Management LLC now owns 7,486 shares of the exchange traded fund’s stock worth $1,820,000 after purchasing an additional 381 shares in the last quarter. Finally, Apollon Wealth Management LLC grew its stake in shares of SPDR Gold Shares by 22.0% in the 3rd quarter. Apollon Wealth Management LLC now owns 25,431 shares of the exchange traded fund’s stock worth $6,181,000 after buying an additional 4,588 shares during the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 1.2 %

Shares of NYSEARCA:GLD opened at $269.16 on Wednesday. The stock has a fifty day simple moving average of $259.29 and a two-hundred day simple moving average of $248.79. SPDR Gold Shares has a 12-month low of $198.94 and a 12-month high of $272.32. The stock has a market capitalization of $80.91 billion, a price-to-earnings ratio of -28.59 and a beta of 0.20.

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).