Franklin Resources Inc. Decreases Position in SPDR Gold Shares (NYSEARCA:GLD)

Franklin Resources Inc. lowered its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 9.7% during the fourth quarter, Holdings Channel reports. The fund owned 94,630 shares of the exchange traded fund’s stock after selling 10,121 shares during the period. Franklin Resources Inc.’s holdings in SPDR Gold Shares were worth $22,913,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Murphy & Mullick Capital Management Corp acquired a new position in SPDR Gold Shares during the 4th quarter worth approximately $26,000. Roxbury Financial LLC acquired a new stake in shares of SPDR Gold Shares in the 4th quarter valued at $31,000. PayPay Securities Corp lifted its position in shares of SPDR Gold Shares by 55.3% during the 4th quarter. PayPay Securities Corp now owns 132 shares of the exchange traded fund’s stock worth $32,000 after purchasing an additional 47 shares during the last quarter. Keystone Financial Group Inc. acquired a new position in shares of SPDR Gold Shares during the fourth quarter worth $39,000. Finally, Compass Planning Associates Inc purchased a new position in SPDR Gold Shares in the fourth quarter valued at $39,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD opened at $279.72 on Monday. The business has a 50-day moving average of $270.91 and a two-hundred day moving average of $254.76. The company has a market capitalization of $84.08 billion, a price-to-earnings ratio of -30.67 and a beta of 0.17. SPDR Gold Shares has a 1 year low of $210.71 and a 1 year high of $289.13.

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).