Benson Investment Management Company Inc. Has $12.52 Million Position in SPDR Gold Shares $GLD

Benson Investment Management Company Inc. lifted its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 83.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm owned 41,062 shares of the exchange traded fund’s stock after acquiring an additional 18,657 shares during the quarter. SPDR Gold Shares makes up 4.7% of Benson Investment Management Company Inc.’s investment portfolio, making the stock its largest position. Benson Investment Management Company Inc.’s holdings in SPDR Gold Shares were worth $12,517,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Cornerstone Wealth Management LLC lifted its holdings in SPDR Gold Shares by 4.0% during the 1st quarter. Cornerstone Wealth Management LLC now owns 10,110 shares of the exchange traded fund’s stock worth $2,913,000 after purchasing an additional 388 shares in the last quarter. American National Bank & Trust lifted its holdings in SPDR Gold Shares by 52.4% during the 2nd quarter. American National Bank & Trust now owns 291 shares of the exchange traded fund’s stock worth $89,000 after purchasing an additional 100 shares in the last quarter. Marmo Financial Group LLC purchased a new stake in SPDR Gold Shares during the 1st quarter worth about $218,000. StrongBox Wealth LLC lifted its holdings in SPDR Gold Shares by 10.1% during the 2nd quarter. StrongBox Wealth LLC now owns 1,487 shares of the exchange traded fund’s stock worth $453,000 after purchasing an additional 136 shares in the last quarter. Finally, TD Private Client Wealth LLC lifted its holdings in SPDR Gold Shares by 14.6% during the 2nd quarter. TD Private Client Wealth LLC now owns 51,235 shares of the exchange traded fund’s stock worth $15,618,000 after purchasing an additional 6,540 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

Shares of GLD opened at $369.12 on Friday. The stock’s 50-day simple moving average is $330.80 and its 200 day simple moving average is $312.55. The stock has a market capitalization of $130.59 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 52-week low of $236.13 and a 52-week high of $373.57.

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).