MGB Wealth Management LLC Trims Stock Position in SPDR Gold Shares (NYSEARCA:GLD)

MGB Wealth Management LLC reduced its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 1.0% during the third quarter, Holdings Channel reports. The firm owned 6,810 shares of the exchange traded fund’s stock after selling 72 shares during the quarter. MGB Wealth Management LLC’s holdings in SPDR Gold Shares were worth $1,655,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Obermeyer Wood Investment Counsel Lllp increased its position in SPDR Gold Shares by 4.4% during the 2nd quarter. Obermeyer Wood Investment Counsel Lllp now owns 11,645 shares of the exchange traded fund’s stock valued at $2,504,000 after purchasing an additional 490 shares during the period. Linden Thomas Advisory Services LLC increased its position in SPDR Gold Shares by 5.1% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,945 shares of the exchange traded fund’s stock valued at $1,063,000 after purchasing an additional 239 shares during the period. RDA Financial Network increased its position in SPDR Gold Shares by 1.8% during the 3rd quarter. RDA Financial Network now owns 5,064 shares of the exchange traded fund’s stock valued at $1,231,000 after purchasing an additional 88 shares during the period. Oxler Private Wealth LLC increased its position in SPDR Gold Shares by 48.9% during the 2nd quarter. Oxler Private Wealth LLC now owns 24,438 shares of the exchange traded fund’s stock valued at $5,254,000 after purchasing an additional 8,021 shares during the period. Finally, Blue Fin Capital Inc. increased its position in SPDR Gold Shares by 1.1% during the 2nd quarter. Blue Fin Capital Inc. now owns 37,225 shares of the exchange traded fund’s stock valued at $8,004,000 after purchasing an additional 388 shares during the period. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Price Performance

Shares of SPDR Gold Shares stock opened at $249.84 on Friday. The company’s fifty day simple moving average is $246.03 and its two-hundred day simple moving average is $230.62. SPDR Gold Shares has a 12-month low of $183.15 and a 12-month high of $257.71.

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).