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

Pier 88 Investment Partners LLC reduced its stake in SPDR Gold Shares (NYSEARCA:GLD) by 58.0% during the 4th quarter, HoldingsChannel reports. The firm owned 6,693 shares of the exchange traded fund’s stock after selling 9,226 shares during the period. Pier 88 Investment Partners LLC’s holdings in SPDR Gold Shares were worth $1,280,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. First Personal Financial Services acquired a new stake in shares of SPDR Gold Shares during the fourth quarter worth $25,000. Frazier Financial Advisors LLC purchased a new position in SPDR Gold Shares during the 4th quarter worth $26,000. Private Ocean LLC lifted its stake in shares of SPDR Gold Shares by 232.7% in the 4th quarter. Private Ocean LLC now owns 163 shares of the exchange traded fund’s stock worth $31,000 after acquiring an additional 114 shares during the period. Naples Money Management LLC purchased a new stake in shares of SPDR Gold Shares in the fourth quarter valued at about $31,000. Finally, Advantage Trust Co acquired a new position in shares of SPDR Gold Shares during the fourth quarter worth about $32,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 0.1 %

NYSEARCA GLD traded up $0.20 during trading hours on Friday, hitting $215.92. 4,212,379 shares of the stock were exchanged, compared to its average volume of 7,236,997. SPDR Gold Shares has a 12-month low of $168.30 and a 12-month high of $225.66. The stock has a 50-day moving average of $213.86 and a 200 day moving average of $197.63.

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).