Palisades Hudson Asset Management L.P. Decreases Holdings in SPDR Gold Shares (NYSEARCA:GLD)

Palisades Hudson Asset Management L.P. cut its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 6.1% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,943 shares of the exchange traded fund’s stock after selling 646 shares during the quarter. SPDR Gold Shares makes up 1.3% of Palisades Hudson Asset Management L.P.’s investment portfolio, making the stock its 22nd largest holding. Palisades Hudson Asset Management L.P.’s holdings in SPDR Gold Shares were worth $2,865,000 as of its most recent SEC filing.

Several other large investors have also recently made changes to their positions in the business. MJT & Associates Financial Advisory Group Inc. bought a new position in shares of SPDR Gold Shares during the 1st quarter worth $30,000. Columbia River Financial Group LLC bought a new position in shares of SPDR Gold Shares during the 1st quarter worth $34,000. HWG Holdings LP bought a new position in shares of SPDR Gold Shares during the 1st quarter worth $53,000. American National Bank & Trust grew its stake in shares of SPDR Gold Shares by 189.4% during the 1st quarter. American National Bank & Trust now owns 191 shares of the exchange traded fund’s stock worth $55,000 after acquiring an additional 125 shares during the period. Finally, Inlight Wealth Management LLC bought a new position in shares of SPDR Gold Shares during the 1st quarter worth $55,000. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

GLD stock opened at $309.11 on Friday. The company has a market capitalization of $102.56 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a fifty-two week low of $220.11 and a fifty-two week high of $317.63. The stock has a fifty day moving average of $308.03 and a 200-day moving average of $290.40.

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).