SPDR Gold Shares $GLD Stock: True Freedom Investing LLC Reduces Position

True Freedom Investing LLC trimmed its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 97.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,702 shares of the exchange traded fund’s stock after selling 210,793 shares during the period. True Freedom Investing LLC’s holdings in SPDR Gold Shares were worth $1,791,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of GLD. First Eagle Investment Management LLC raised its stake in shares of SPDR Gold Shares by 1.5% in the second quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock valued at $917,864,000 after buying an additional 35,882 shares during the period. Envestnet Asset Management Inc. lifted its position in shares of SPDR Gold Shares by 0.5% during the 2nd quarter. Envestnet Asset Management Inc. now owns 1,169,683 shares of the exchange traded fund’s stock valued at $430,888,000 after buying an additional 5,793 shares during the last quarter. PPSC Investment Service Corp grew its stake in shares of SPDR Gold Shares by 2.2% during the 3rd quarter. PPSC Investment Service Corp now owns 789,050 shares of the exchange traded fund’s stock worth $300,502,000 after acquiring an additional 16,678 shares during the period. PNC Financial Services Group Inc. grew its stake in shares of SPDR Gold Shares by 1.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 707,998 shares of the exchange traded fund’s stock worth $304,644,000 after acquiring an additional 12,415 shares during the period. Finally, Bank of Korea bought a new position in shares of SPDR Gold Shares during the 2nd quarter worth $250,411,831. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares Stock Performance

Shares of SPDR Gold Shares stock opened at $355.78 on Monday. SPDR Gold Shares has a 52-week low of $354.67 and a 52-week high of $509.70. The stock’s 50-day simple moving average is $390.57 and its 200 day simple moving average is $412.97. The stock has a market capitalization of $130.18 billion, a P/E ratio of -32.43 and a beta of 0.18.

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). The Trust issues Shares in Baskets to certain authorized participants (Authorized Participants) on an ongoing basis. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of gold and any cash represented by the Baskets being created or redeemed, the amount of which will be based on the combined net asset value of various Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.