1248 Management LLC Takes $928,000 Position in SPDR Gold Shares $GLD

1248 Management LLC purchased a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) in the 1st quarter, HoldingsChannel reports. The institutional investor purchased 3,219 shares of the exchange traded fund’s stock, valued at approximately $928,000.

Several other institutional investors have also made changes to their positions in the company. Invst LLC lifted its holdings in shares of SPDR Gold Shares by 60.0% during the 1st quarter. Invst LLC now owns 2,886 shares of the exchange traded fund’s stock valued at $832,000 after buying an additional 1,082 shares during the last quarter. Integrity Wealth Advisors Inc. lifted its holdings in SPDR Gold Shares by 52.6% in the 1st quarter. Integrity Wealth Advisors Inc. now owns 2,233 shares of the exchange traded fund’s stock worth $643,000 after purchasing an additional 770 shares during the last quarter. Modern Wealth Management LLC lifted its holdings in SPDR Gold Shares by 15.9% in the 1st quarter. Modern Wealth Management LLC now owns 10,214 shares of the exchange traded fund’s stock worth $2,943,000 after purchasing an additional 1,404 shares during the last quarter. Jones Financial Companies Lllp lifted its holdings in SPDR Gold Shares by 48.2% in the 1st quarter. Jones Financial Companies Lllp now owns 123,997 shares of the exchange traded fund’s stock worth $35,227,000 after purchasing an additional 40,351 shares during the last quarter. Finally, Birmingham Capital Management Co. Inc. AL acquired a new stake in SPDR Gold Shares in the 1st quarter worth approximately $360,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Down 0.1%

Shares of GLD stock opened at $334.76 on Friday. SPDR Gold Shares has a 12 month low of $234.42 and a 12 month high of $338.31. The firm has a market cap of $111.61 billion, a PE ratio of -32.43 and a beta of 0.15. The stock has a 50 day moving average of $312.73 and a 200-day moving average of $301.17.

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).