Synovus Financial Corp Trims Stock Holdings in SPDR Gold Shares (NYSEARCA:GLD)

Synovus Financial Corp lowered its stake in SPDR Gold Shares (NYSEARCA:GLD) by 32.4% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 198,480 shares of the exchange traded fund’s stock after selling 95,310 shares during the quarter. SPDR Gold Shares comprises 0.6% of Synovus Financial Corp’s portfolio, making the stock its 25th biggest holding. Synovus Financial Corp owned 0.07% of SPDR Gold Shares worth $48,061,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently made changes to their positions in the stock. abrdn plc boosted its position in shares of SPDR Gold Shares by 93.7% in the fourth quarter. abrdn plc now owns 13,994 shares of the exchange traded fund’s stock worth $3,391,000 after purchasing an additional 6,768 shares during the period. WMG Financial Advisors LLC lifted its stake in shares of SPDR Gold Shares by 18.9% during the 4th quarter. WMG Financial Advisors LLC now owns 5,344 shares of the exchange traded fund’s stock valued at $1,294,000 after buying an additional 851 shares in the last quarter. Cassaday & Co Wealth Management LLC boosted its holdings in SPDR Gold Shares by 1.8% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 4,962 shares of the exchange traded fund’s stock worth $1,201,000 after buying an additional 90 shares during the period. Measured Wealth Private Client Group LLC increased its stake in SPDR Gold Shares by 5.5% in the 4th quarter. Measured Wealth Private Client Group LLC now owns 64,674 shares of the exchange traded fund’s stock worth $15,659,000 after buying an additional 3,356 shares in the last quarter. Finally, BKM Wealth Management LLC raised its holdings in SPDR Gold Shares by 5.9% during the fourth quarter. BKM Wealth Management LLC now owns 5,838 shares of the exchange traded fund’s stock valued at $1,414,000 after acquiring an additional 327 shares during the period. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Stock Up 1.9 %

NYSEARCA GLD opened at $297.93 on Friday. The business has a 50-day moving average price of $274.59 and a 200-day moving average price of $256.56. The firm has a market cap of $89.56 billion, a price-to-earnings ratio of -30.67 and a beta of 0.17. SPDR Gold Shares has a twelve month low of $210.71 and a twelve month high of $299.28.

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).