Sweeney & Michel LLC Buys Shares of 3,481 SPDR Gold Shares (NYSEARCA:GLD)

Sweeney & Michel LLC bought a new stake in SPDR Gold Shares (NYSEARCA:GLD) during the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 3,481 shares of the exchange traded fund’s stock, valued at approximately $759,000.

A number of other hedge funds also recently added to or reduced their stakes in GLD. First Personal Financial Services bought a new stake in shares of SPDR Gold Shares during the fourth quarter valued at about $25,000. Frazier Financial Advisors LLC bought a new stake in shares of SPDR Gold Shares during the fourth quarter valued at about $26,000. Northwest Investment Counselors LLC bought a new stake in shares of SPDR Gold Shares during the first quarter valued at about $26,000. Gold Investment Management Ltd. bought a new stake in shares of SPDR Gold Shares during the fourth quarter valued at about $27,000. Finally, Security National Bank bought a new stake in shares of SPDR Gold Shares during the first quarter valued at about $28,000. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD traded up $2.20 during midday trading on Tuesday, reaching $222.52. 4,761,570 shares of the company traded hands, compared to its average volume of 7,187,001. SPDR Gold Shares has a 52 week low of $168.30 and a 52 week high of $229.65. The stock has a 50-day moving average price of $218.06 and a 200 day moving average price of $207.84.

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).