GeoWealth Management LLC boosted its stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 77.5% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 7,304 shares of the exchange traded fund’s stock after purchasing an additional 3,190 shares during the period. GeoWealth Management LLC’s holdings in SPDR Gold Shares were worth $1,302,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the company. Sei Investments Co. bought a new position in shares of SPDR Gold Shares during the 1st quarter worth approximately $24,420,000. Covestor Ltd boosted its stake in SPDR Gold Shares by 69.4% during the first quarter. Covestor Ltd now owns 532 shares of the exchange traded fund’s stock worth $96,000 after acquiring an additional 218 shares in the last quarter. Merit Financial Group LLC grew its holdings in SPDR Gold Shares by 18.6% in the first quarter. Merit Financial Group LLC now owns 2,773 shares of the exchange traded fund’s stock worth $501,000 after purchasing an additional 435 shares during the period. First Western Trust Bank bought a new stake in SPDR Gold Shares in the first quarter valued at $256,000. Finally, Prudential Financial Inc. raised its holdings in shares of SPDR Gold Shares by 32.5% during the first quarter. Prudential Financial Inc. now owns 36,898 shares of the exchange traded fund’s stock valued at $6,666,000 after purchasing an additional 9,049 shares during the period. Institutional investors own 40.99% of the company’s stock.
SPDR Gold Shares Stock Performance
Shares of GLD opened at $183.37 on Tuesday. SPDR Gold Shares has a one year low of $161.28 and a one year high of $191.36. The stock has a 50-day moving average of $178.86 and a 200-day moving average of $179.99.
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).
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