Weaver Capital Management LLC Trims Stake in SPDR Gold Shares (NYSEARCA:GLD)

Weaver Capital Management LLC lowered its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 2.5% during the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,309 shares of the exchange traded fund’s stock after selling 134 shares during the period. Weaver Capital Management LLC’s holdings in SPDR Gold Shares were worth $1,530,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Proficio Capital Partners LLC increased its position in shares of SPDR Gold Shares by 24,245.2% during 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 buying an additional 60,504,152 shares during the period. Raymond James Financial Inc. purchased a new position in shares of SPDR Gold Shares during the fourth quarter valued at about $450,109,000. Leigh Baldwin & CO. LLC purchased a new position in shares of SPDR Gold Shares during the fourth quarter valued at about $401,829,000. Ameriprise Financial Inc. increased its position in shares of SPDR Gold Shares by 10.9% during the fourth quarter. Ameriprise Financial Inc. now owns 1,387,693 shares of the exchange traded fund’s stock valued at $335,909,000 after buying an additional 136,120 shares during the period. Finally, Wealthfront Advisers LLC increased its position in shares of SPDR Gold Shares by 1,374.2% during 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 buying an additional 1,045,499 shares during the period. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD opened at $310.13 on Friday. The stock has a market capitalization of $101.41 billion, a P/E ratio of -32.43 and a beta of 0.11. SPDR Gold Shares has a 1 year low of $212.12 and a 1 year high of $317.63. The company’s 50-day moving average is $305.94 and its 200 day moving average is $276.98.

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).