SKY Mountain Capital Management Inc. Takes $14.75 Million Position in SPDR Gold Shares (NYSEARCA:GLD)

SKY Mountain Capital Management Inc. purchased a new stake in SPDR Gold Shares (NYSEARCA:GLD) during the first quarter, HoldingsChannel.com reports. The fund purchased 51,193 shares of the exchange traded fund’s stock, valued at approximately $14,751,000. SPDR Gold Shares accounts for 12.5% of SKY Mountain Capital Management Inc.’s holdings, making the stock its 2nd biggest holding.

A number of other institutional investors also recently modified their holdings of GLD. Principal Securities Inc. increased its position in SPDR Gold Shares by 0.3% during the first quarter. Principal Securities Inc. now owns 10,301 shares of the exchange traded fund’s stock worth $2,968,000 after acquiring an additional 33 shares during the period. Thurston Springer Miller Herd & Titak Inc. increased its position in SPDR Gold Shares by 6.6% during the first quarter. Thurston Springer Miller Herd & Titak Inc. now owns 568 shares of the exchange traded fund’s stock worth $164,000 after acquiring an additional 35 shares during the period. Stewardship Advisors LLC increased its position in SPDR Gold Shares by 2.6% during the first quarter. Stewardship Advisors LLC now owns 1,441 shares of the exchange traded fund’s stock worth $415,000 after acquiring an additional 36 shares during the period. JBR Co Financial Management Inc increased its position in SPDR Gold Shares by 2.1% during the first quarter. JBR Co Financial Management Inc now owns 1,741 shares of the exchange traded fund’s stock worth $502,000 after acquiring an additional 36 shares during the period. Finally, Mayfair Advisory Group LLC increased its position in SPDR Gold Shares by 1.3% during the first quarter. Mayfair Advisory Group LLC now owns 2,844 shares of the exchange traded fund’s stock worth $819,000 after acquiring an additional 36 shares during the period. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of SPDR Gold Shares stock opened at $306.73 on Wednesday. The firm has a market capitalization of $101.53 billion, a PE ratio of -32.43 and a beta of 0.15. The company’s fifty day moving average price is $306.37 and its two-hundred day moving average price is $284.67. SPDR Gold Shares has a 52-week low of $217.52 and a 52-week high of $317.63.

SPDR Gold Shares 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).