Absolute Capital Management LLC Has $232,000 Holdings in SPDR Gold Shares (NYSEARCA:GLD)

Absolute Capital Management LLC cut its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 46.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 963 shares of the exchange traded fund’s stock after selling 832 shares during the period. Absolute Capital Management LLC’s holdings in SPDR Gold Shares were worth $232,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Proficio Capital Partners LLC raised its holdings in shares of SPDR Gold Shares by 24,245.2% in the fourth quarter. Proficio Capital Partners LLC now owns 60,753,703 shares of the exchange traded fund’s stock valued at $14,710,294,000 after purchasing an additional 60,504,152 shares during the last quarter. Raymond James Financial Inc. acquired a new stake in shares of SPDR Gold Shares in the fourth quarter valued at approximately $450,109,000. Wealthfront Advisers LLC raised its holdings in shares of SPDR Gold Shares by 1,374.2% in the fourth quarter. Wealthfront Advisers LLC now owns 1,121,579 shares of the exchange traded fund’s stock valued at $271,568,000 after purchasing an additional 1,045,499 shares during the last quarter. Commonwealth Equity Services LLC grew its stake in shares of SPDR Gold Shares by 3.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 980,065 shares of the exchange traded fund’s stock valued at $237,303,000 after buying an additional 32,712 shares in the last quarter. Finally, Stifel Financial Corp grew its stake in shares of SPDR Gold Shares by 13.9% in the third quarter. Stifel Financial Corp now owns 822,531 shares of the exchange traded fund’s stock valued at $199,924,000 after buying an additional 100,149 shares in the last quarter. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Trading Down 0.1 %

NYSEARCA:GLD opened at $280.75 on Friday. SPDR Gold Shares has a 1-year low of $199.72 and a 1-year high of $281.48. The firm has a fifty day simple moving average of $263.87 and a 200 day simple moving average of $250.73. The stock has a market capitalization of $84.39 billion, a PE ratio of -29.30 and a beta of 0.20.

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).