Grant Private Wealth Management Inc Invests $248,000 in SPDR Gold Shares (NYSEARCA:GLD)

Grant Private Wealth Management Inc bought a new position in SPDR Gold Shares (NYSEARCA:GLD) in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 860 shares of the exchange traded fund’s stock, valued at approximately $248,000.

A number of other hedge funds have also added to or reduced their stakes in the business. Proficio Capital Partners LLC grew its stake in SPDR Gold Shares by 24,245.2% in the fourth quarter. Proficio Capital Partners LLC now owns 60,753,703 shares of the exchange traded fund’s stock valued at $14,710,294,000 after acquiring an additional 60,504,152 shares during the period. Raymond James Financial Inc. bought a new stake in SPDR Gold Shares during the fourth quarter worth $450,109,000. Leigh Baldwin & CO. LLC bought a new stake in SPDR Gold Shares during the fourth quarter worth $401,829,000. Wealthfront Advisers LLC lifted its holdings in SPDR Gold Shares by 1,374.2% during the fourth quarter. Wealthfront Advisers LLC now owns 1,121,579 shares of the exchange traded fund’s stock worth $271,568,000 after acquiring an additional 1,045,499 shares during the period. Finally, Mizuho Bank Ltd. bought a new stake in shares of SPDR Gold Shares in the fourth quarter valued at $145,278,000. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Price Performance

Shares of GLD opened at $316.29 on Friday. The firm has a market cap of $103.43 billion, a PE ratio of -32.43 and a beta of 0.11. The stock’s fifty day moving average price is $303.57 and its two-hundred day moving average price is $274.89. SPDR Gold Shares has a 1 year low of $212.12 and a 1 year high of $317.63.

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).