Avalon Capital Management Grows Position in SPDR Gold Shares (NYSEARCA:GLD)

Avalon Capital Management raised its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 5.3% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 62,600 shares of the exchange traded fund’s stock after buying an additional 3,173 shares during the period. SPDR Gold Shares comprises approximately 4.3% of Avalon Capital Management’s investment portfolio, making the stock its 8th biggest holding. Avalon Capital Management’s holdings in SPDR Gold Shares were worth $13,460,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLD. Triad Wealth Partners LLC bought a new position in shares of SPDR Gold Shares during the second quarter worth approximately $25,000. Frazier Financial Advisors LLC bought a new position in shares of SPDR Gold Shares during the fourth quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new stake in SPDR Gold Shares during the first quarter worth approximately $26,000. Gold Investment Management Ltd. acquired a new stake in SPDR Gold Shares during the fourth quarter worth approximately $27,000. Finally, Security National Bank acquired a new stake in SPDR Gold Shares during the first quarter worth approximately $28,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 1.2 %

NYSEARCA:GLD traded up $2.65 during trading hours on Friday, reaching $232.02. 5,408,991 shares of the company were exchanged, compared to its average volume of 7,195,282. SPDR Gold Shares has a 1-year low of $168.30 and a 1-year high of $234.01. The business has a 50 day moving average of $221.79 and a 200 day moving average of $212.16.

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).