Acorn Financial Advisory Services Inc. ADV Purchases Shares of 1,167 SPDR Gold Shares $GLD

Acorn Financial Advisory Services Inc. ADV purchased a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) in the second quarter, Holdings Channel.com reports. The institutional investor purchased 1,167 shares of the exchange traded fund’s stock, valued at approximately $356,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLD. DAVENPORT & Co LLC raised its position in SPDR Gold Shares by 105.3% during the 1st quarter. DAVENPORT & Co LLC now owns 45,496 shares of the exchange traded fund’s stock valued at $13,109,000 after purchasing an additional 896,836 shares during the last quarter. 59 North Capital Management LP raised its position in SPDR Gold Shares by 76.4% during the 1st quarter. 59 North Capital Management LP now owns 1,263,196 shares of the exchange traded fund’s stock valued at $363,977,000 after purchasing an additional 547,018 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its position in SPDR Gold Shares by 604.5% during the 1st quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 548,947 shares of the exchange traded fund’s stock valued at $158,174,000 after purchasing an additional 471,032 shares during the last quarter. Kingstone Capital Partners Texas LLC bought a new position in SPDR Gold Shares during the 2nd quarter valued at approximately $120,429,000. Finally, Raymond James Financial Inc. raised its position in SPDR Gold Shares by 11.0% during the 1st quarter. Raymond James Financial Inc. now owns 2,063,634 shares of the exchange traded fund’s stock valued at $594,616,000 after purchasing an additional 204,676 shares during the last quarter. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

GLD opened at $378.09 on Tuesday. SPDR Gold Shares has a one year low of $236.13 and a one year high of $378.86. The firm has a market capitalization of $134.00 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. The business has a 50 day simple moving average of $332.14 and a two-hundred day simple moving average of $313.66.

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).