Wellington Shields Capital Management LLC Sells 14,462 Shares of SPDR Gold Shares (NYSEARCA:GLD)

Wellington Shields Capital Management LLC reduced its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 79.1% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 3,820 shares of the exchange traded fund’s stock after selling 14,462 shares during the quarter. Wellington Shields Capital Management LLC’s holdings in SPDR Gold Shares were worth $627,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. IFP Advisors Inc increased its holdings in SPDR Gold Shares by 15.3% in the third quarter. IFP Advisors Inc now owns 35,442 shares of the exchange traded fund’s stock worth $5,869,000 after purchasing an additional 4,690 shares in the last quarter. Inverness Counsel LLC NY increased its holdings in shares of SPDR Gold Shares by 59.5% during the third quarter. Inverness Counsel LLC NY now owns 13,163 shares of the exchange traded fund’s stock valued at $2,162,000 after acquiring an additional 4,910 shares in the last quarter. Running Point Capital Advisors LLC increased its holdings in shares of SPDR Gold Shares by 68.4% during the second quarter. Running Point Capital Advisors LLC now owns 7,062 shares of the exchange traded fund’s stock valued at $1,170,000 after acquiring an additional 2,869 shares in the last quarter. Valmark Advisers Inc. increased its holdings in shares of SPDR Gold Shares by 82.4% during the third quarter. Valmark Advisers Inc. now owns 7,150 shares of the exchange traded fund’s stock valued at $1,174,000 after acquiring an additional 3,229 shares in the last quarter. Finally, Good Life Advisors LLC increased its holdings in shares of SPDR Gold Shares by 27.7% during the third quarter. Good Life Advisors LLC now owns 25,973 shares of the exchange traded fund’s stock valued at $4,265,000 after acquiring an additional 5,629 shares in the last quarter. Institutional investors and hedge funds own 36.45% of the company’s stock.

Shares of NYSEARCA GLD traded down $0.01 during midday trading on Friday, hitting $170.15. 216,126 shares of the stock traded hands, compared to its average volume of 6,746,515. SPDR Gold Shares has a one year low of $157.13 and a one year high of $178.85. The business has a 50 day moving average price of $168.90 and a two-hundred day moving average price of $167.71.

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).

Further Reading: Support Level

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

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