Modern Wealth Management LLC Acquires 2,631 Shares of SPDR Gold Shares (NYSEARCA:GLD)

Modern Wealth Management LLC lifted its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 39.4% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,301 shares of the exchange traded fund’s stock after purchasing an additional 2,631 shares during the period. Modern Wealth Management LLC’s holdings in SPDR Gold Shares were worth $2,496,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Truvestments Capital LLC bought a new position in shares of SPDR Gold Shares during the 3rd quarter valued at approximately $85,000. Summit Financial Wealth Advisors LLC increased its position in SPDR Gold Shares by 5.4% in the third quarter. Summit Financial Wealth Advisors LLC now owns 4,159 shares of the exchange traded fund’s stock worth $1,011,000 after buying an additional 213 shares during the last quarter. Avestar Capital LLC bought a new stake in shares of SPDR Gold Shares in the third quarter valued at $211,000. Townsquare Capital LLC lifted its position in shares of SPDR Gold Shares by 10.2% during the 3rd quarter. Townsquare Capital LLC now owns 19,969 shares of the exchange traded fund’s stock valued at $4,854,000 after buying an additional 1,846 shares during the last quarter. Finally, Cynosure Group LLC grew its stake in shares of SPDR Gold Shares by 125.5% during the 3rd quarter. Cynosure Group LLC now owns 48,521 shares of the exchange traded fund’s stock worth $11,794,000 after acquiring an additional 27,005 shares during the period. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

Shares of SPDR Gold Shares stock opened at $278.47 on Wednesday. The stock has a market capitalization of $83.71 billion, a P/E ratio of -29.30 and a beta of 0.20. SPDR Gold Shares has a 52-week low of $201.07 and a 52-week high of $281.48. The stock’s 50-day simple moving average is $265.73 and its 200 day simple moving average is $252.00.

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).