Biltmore Wealth Management LLC Trims Stake in SPDR Gold Shares (NYSEARCA:GLD)

Biltmore Wealth Management LLC lessened its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 10.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,678 shares of the exchange traded fund’s stock after selling 3,626 shares during the period. SPDR Gold Shares comprises approximately 3.2% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 12th biggest position. Biltmore Wealth Management LLC’s holdings in SPDR Gold Shares were worth $7,700,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of GLD. TKG Advisors LLC boosted its holdings in SPDR Gold Shares by 0.7% during the 4th quarter. TKG Advisors LLC now owns 15,224 shares of the exchange traded fund’s stock valued at $2,910,000 after acquiring an additional 110 shares during the period. City Holding Co. boosted its holdings in SPDR Gold Shares by 5.6% during the 1st quarter. City Holding Co. now owns 3,708 shares of the exchange traded fund’s stock valued at $763,000 after acquiring an additional 195 shares during the period. St. Johns Investment Management Company LLC boosted its holdings in SPDR Gold Shares by 5.7% during the 1st quarter. St. Johns Investment Management Company LLC now owns 27,729 shares of the exchange traded fund’s stock valued at $5,704,000 after acquiring an additional 1,492 shares during the period. Bradley Foster & Sargent Inc. CT lifted its holdings in shares of SPDR Gold Shares by 0.8% in the 4th quarter. Bradley Foster & Sargent Inc. CT now owns 297,779 shares of the exchange traded fund’s stock worth $56,926,000 after buying an additional 2,335 shares during the period. Finally, Traynor Capital Management Inc. lifted its holdings in shares of SPDR Gold Shares by 19.9% in the 1st quarter. Traynor Capital Management Inc. now owns 1,720 shares of the exchange traded fund’s stock worth $354,000 after buying an additional 285 shares during the period. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of GLD stock traded down $0.49 during mid-day trading on Friday, hitting $245.00. The stock had a trading volume of 5,951,628 shares, compared to its average volume of 7,064,065. SPDR Gold Shares has a 12-month low of $168.30 and a 12-month high of $247.37. The firm’s 50-day moving average is $233.29 and its two-hundred day moving average is $221.99.

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).