Montecito Bank & Trust Makes New Investment in SPDR Gold Shares $GLD

Montecito Bank & Trust bought a new stake in SPDR Gold Shares (NYSEARCA:GLD) in the 3rd quarter, Holdings Channel reports. The institutional investor bought 5,426 shares of the exchange traded fund’s stock, valued at approximately $1,929,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in GLD. Channel Wealth LLC increased its stake in SPDR Gold Shares by 3.0% in the third quarter. Channel Wealth LLC now owns 2,494 shares of the exchange traded fund’s stock valued at $887,000 after acquiring an additional 73 shares during the last quarter. Canandaigua National Trust Co of Florida acquired a new stake in shares of SPDR Gold Shares in the 3rd quarter valued at $218,000. Grant Private Wealth Management Inc acquired a new stake in shares of SPDR Gold Shares in the 3rd quarter valued at $321,000. Canandaigua National Bank & Trust Co. bought a new position in shares of SPDR Gold Shares in the 3rd quarter valued at $231,000. Finally, 1620 Investment Advisors Inc. raised its holdings in shares of SPDR Gold Shares by 19.3% during the 3rd quarter. 1620 Investment Advisors Inc. now owns 1,084 shares of the exchange traded fund’s stock worth $385,000 after buying an additional 175 shares in the last quarter. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 0.9%

NYSEARCA:GLD opened at $399.29 on Thursday. SPDR Gold Shares has a twelve month low of $238.73 and a twelve month high of $403.30. The stock’s 50-day simple moving average is $380.23 and its 200 day simple moving average is $340.49. The firm has a market capitalization of $144.50 billion, a PE ratio of -32.43 and a beta of 0.09.

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).