Cedar Wealth Management LLC Cuts Position in SPDR Gold Shares (NYSEARCA:GLD)

Cedar Wealth Management LLC reduced its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 19.9% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 2,922 shares of the exchange traded fund’s stock after selling 726 shares during the period. Cedar Wealth Management LLC’s holdings in SPDR Gold Shares were worth $628,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Triad Wealth Partners LLC acquired a new position in SPDR Gold Shares during the second quarter worth about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of SPDR Gold Shares in the first quarter valued at $26,000. Private Ocean LLC boosted its position in shares of SPDR Gold Shares by 155.1% in the 2nd quarter. Private Ocean LLC now owns 125 shares of the exchange traded fund’s stock worth $27,000 after buying an additional 76 shares in the last quarter. Chris Bulman Inc purchased a new stake in shares of SPDR Gold Shares in the 2nd quarter worth about $29,000. Finally, Frazier Financial Advisors LLC acquired a new stake in SPDR Gold Shares in the 4th quarter valued at about $26,000. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares Trading Up 1.5 %

GLD stock opened at $239.14 on Friday. SPDR Gold Shares has a 12 month low of $168.30 and a 12 month high of $240.29. The company’s 50 day simple moving average is $228.53 and its 200-day simple moving average is $218.54.

SPDR Gold Shares Company 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).