United Bank Purchases 400 Shares of SPDR Gold Shares (NYSEARCA:GLD)

United Bank increased its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 16.4% during the 4th quarter, Holdings Channel reports. The firm owned 2,841 shares of the exchange traded fund’s stock after buying an additional 400 shares during the period. United Bank’s holdings in SPDR Gold Shares were worth $688,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of GLD. Proficio Capital Partners LLC raised its holdings in shares of SPDR Gold Shares by 24,245.2% during 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 in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of SPDR Gold Shares in the 4th quarter worth about $450,109,000. Wealthfront Advisers LLC boosted its stake in shares of SPDR Gold Shares by 1,374.2% during the 4th quarter. Wealthfront Advisers LLC now owns 1,121,579 shares of the exchange traded fund’s stock valued at $271,568,000 after purchasing an additional 1,045,499 shares in the last quarter. Commonwealth Equity Services LLC increased its position in shares of SPDR Gold Shares by 3.5% during the fourth quarter. Commonwealth Equity Services LLC now owns 980,065 shares of the exchange traded fund’s stock valued at $237,303,000 after buying an additional 32,712 shares during the period. Finally, Stifel Financial Corp raised its stake in SPDR Gold Shares by 13.9% in the third quarter. Stifel Financial Corp now owns 822,531 shares of the exchange traded fund’s stock worth $199,924,000 after buying an additional 100,149 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

SPDR Gold Shares stock opened at $284.06 on Friday. SPDR Gold Shares has a fifty-two week low of $206.29 and a fifty-two week high of $284.64. The stock has a market cap of $85.39 billion, a price-to-earnings ratio of -29.30 and a beta of 0.20. The stock’s 50 day simple moving average is $267.64 and its two-hundred day simple moving average is $252.90.

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).