Biltmore Wealth Management LLC Trims Position in SPDR Gold Shares $GLD

Biltmore Wealth Management LLC lessened its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 6.1% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 29,403 shares of the exchange traded fund’s stock after selling 1,912 shares during the quarter. SPDR Gold Shares comprises 3.6% of Biltmore Wealth Management LLC’s portfolio, making the stock its 11th largest holding. Biltmore Wealth Management LLC’s holdings in SPDR Gold Shares were worth $8,963,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in GLD. Affinity Capital Advisors LLC bought a new stake in shares of SPDR Gold Shares during the 2nd quarter valued at about $205,000. Westbourne Investments Inc. boosted its position in shares of SPDR Gold Shares by 1.5% during the 2nd quarter. Westbourne Investments Inc. now owns 10,359 shares of the exchange traded fund’s stock valued at $3,158,000 after acquiring an additional 155 shares during the last quarter. StrongBox Wealth LLC boosted its position in shares of SPDR Gold Shares by 10.1% during the 2nd quarter. StrongBox Wealth LLC now owns 1,487 shares of the exchange traded fund’s stock valued at $453,000 after acquiring an additional 136 shares during the last quarter. Thrive Wealth Management LLC bought a new stake in shares of SPDR Gold Shares during the 2nd quarter valued at about $225,000. Finally, Post Resch Tallon Group Inc. boosted its position in shares of SPDR Gold Shares by 3.4% during the 2nd quarter. Post Resch Tallon Group Inc. now owns 2,257 shares of the exchange traded fund’s stock valued at $688,000 after acquiring an additional 75 shares during the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 0.2%

Shares of GLD opened at $339.59 on Wednesday. The company has a market cap of $113.22 billion, a PE ratio of -32.43 and a beta of 0.15. The stock has a 50-day moving average price of $314.63 and a 200-day moving average price of $302.91. SPDR Gold Shares has a 12-month low of $235.30 and a 12-month high of $340.88.

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).