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

Biltmore Wealth Management LLC lessened its stake in SPDR Gold Shares (NYSEARCA:GLD) by 10.3% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 31,678 shares of the exchange traded fund’s stock after selling 3,626 shares during the quarter. SPDR Gold Shares makes up about 3.2% of Biltmore Wealth Management LLC’s investment portfolio, making the stock its 12th largest position. Biltmore Wealth Management LLC’s holdings in SPDR Gold Shares were worth $7,700,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Scarborough Advisors LLC grew its stake in shares of SPDR Gold Shares by 10,133.3% in the 4th quarter. Scarborough Advisors LLC now owns 2,662,393 shares of the exchange traded fund’s stock worth $508,970,000 after buying an additional 2,636,376 shares in the last quarter. Toronto Dominion Bank lifted its holdings in shares of SPDR Gold Shares by 23.6% in the 1st quarter. Toronto Dominion Bank now owns 5,649,510 shares of the exchange traded fund’s stock valued at $1,162,217,000 after acquiring an additional 1,079,452 shares during the last quarter. Arizona PSPRS Trust purchased a new position in SPDR Gold Shares in the second quarter worth about $157,187,000. Global Assets Advisory LLC bought a new stake in SPDR Gold Shares during the first quarter worth approximately $144,269,000. Finally, GLOBALT Investments LLC GA purchased a new stake in SPDR Gold Shares during the fourth quarter valued at approximately $124,066,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of NYSEARCA:GLD traded down $0.49 during trading on Friday, hitting $245.00. The company had a trading volume of 5,951,628 shares, compared to its average volume of 7,064,065. The company has a fifty day simple moving average of $233.29 and a two-hundred day simple moving average of $221.99. SPDR Gold Shares has a one year low of $168.30 and a one year high of $247.37.

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).