Fragasso Financial Advisors Inc Decreases Stock Position in SPDR Gold Shares (NYSEARCA:GLD)

Fragasso Financial Advisors Inc trimmed its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 39.5% in the first quarter, Holdings Channel.com reports. The firm owned 4,018 shares of the exchange traded fund’s stock after selling 2,625 shares during the period. Fragasso Financial Advisors Inc’s holdings in SPDR Gold Shares were worth $1,158,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tallon Kerry Patrick purchased a new position in SPDR Gold Shares in the fourth quarter valued at about $547,000. Ironwood Wealth Management LLC. grew its position in shares of SPDR Gold Shares by 8.5% during the fourth quarter. Ironwood Wealth Management LLC. now owns 1,191 shares of the exchange traded fund’s stock worth $288,000 after buying an additional 93 shares in the last quarter. Brighton Jones LLC increased its stake in shares of SPDR Gold Shares by 20.4% in the fourth quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after buying an additional 1,903 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of SPDR Gold Shares in the fourth quarter worth $7,794,000. Finally, Crews Bank & Trust bought a new position in SPDR Gold Shares during the 4th quarter valued at $57,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of GLD stock opened at $303.60 on Monday. The firm has a fifty day moving average of $298.11 and a two-hundred day moving average of $270.48. The firm has a market cap of $91.26 billion, a P/E ratio of -32.43 and a beta of 0.12. SPDR Gold Shares has a 1-year low of $211.54 and a 1-year high of $317.63.

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).