Pier 88 Investment Partners LLC Cuts Stock Position in SPDR Gold Shares (NYSEARCA:GLD)

Pier 88 Investment Partners LLC trimmed its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 41.8% in the second quarter, HoldingsChannel.com reports. The fund owned 3,893 shares of the exchange traded fund’s stock after selling 2,800 shares during the period. Pier 88 Investment Partners LLC’s holdings in SPDR Gold Shares were worth $837,000 at the end of the most recent quarter.

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

SPDR Gold Shares Stock Performance

Shares of GLD opened at $230.63 on Friday. The firm’s fifty day simple moving average is $225.43 and its 200-day simple moving average is $215.79. SPDR Gold Shares has a twelve month low of $168.30 and a twelve month high of $234.01.

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).