Inspire Advisors LLC Grows Position in SPDR Gold Shares (NYSEARCA:GLD)

Inspire Advisors LLC raised its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 17.8% during the 1st quarter, HoldingsChannel.com reports. The fund owned 2,085 shares of the exchange traded fund’s stock after acquiring an additional 315 shares during the quarter. Inspire Advisors LLC’s holdings in SPDR Gold Shares were worth $429,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Pointe Capital Management LLC raised its holdings in shares of SPDR Gold Shares by 4.0% in the 1st quarter. Pointe Capital Management LLC now owns 14,478 shares of the exchange traded fund’s stock valued at $2,978,000 after acquiring an additional 563 shares in the last quarter. WMG Financial Advisors LLC raised its holdings in shares of SPDR Gold Shares by 1.5% during the 1st quarter. WMG Financial Advisors LLC now owns 3,482 shares of the exchange traded fund’s stock valued at $716,000 after buying an additional 52 shares in the last quarter. RPG Investment Advisory LLC lifted its position in SPDR Gold Shares by 7.8% in the 1st quarter. RPG Investment Advisory LLC now owns 4,133 shares of the exchange traded fund’s stock worth $850,000 after buying an additional 300 shares during the last quarter. Reynders McVeigh Capital Management LLC bought a new stake in SPDR Gold Shares in the 1st quarter worth approximately $725,000. Finally, TCI Wealth Advisors Inc. lifted its position in SPDR Gold Shares by 5.8% in the 1st quarter. TCI Wealth Advisors Inc. now owns 1,525 shares of the exchange traded fund’s stock worth $314,000 after buying an additional 83 shares during the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

NYSEARCA:GLD traded up $3.62 during mid-day trading on Tuesday, reaching $227.45. The stock had a trading volume of 6,187,967 shares, compared to its average volume of 7,201,083. The firm has a 50 day moving average price of $217.26 and a two-hundred day moving average price of $205.24. SPDR Gold Shares has a one year low of $168.30 and a one year high of $227.98.

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).