New Positions on Covestor

Covestor model manager Craig Steury bought Sturm Ruger & Co Inc (NYSE:RGR) this week in his Algorithmic Trading portfolio. In this portfolio, Steury holds computer executed positions for anywhere from 2 to 6 days and basis his computerized buys on an algorithm that analyzes Nasdaq issues. In 2009, Sturm Ruger’s net revenues and stockholder equity experienced massive growth as did their total assets. They have a low price to earnings ratio and over the past six months the price of their stock has risen over 37%. A recent ruling allowing the Second Amendment (the right to bear arms) to be applied when dealing with state and local governments helped the stock rise in June, but it has fallen from those temporary numbers.

Robert Giannini focuses his Covestor model on international equities and hedges it with inverse ETFs. In his model, International Equities Giannini purchased SPDR Gold Shares (GLD) this week. This SPDR attempts to mirror the performance of the price of gold. Unlike the purchase of actual gold, the gold that backs this SPDR is held by a trust. The price of gold has risen over 28% over the past year, and the GLD SPDR has risen just over 29% which means that the underlying assets are purchased in the correct weight to mimic the commodity’s performance.