BNC Wealth Management LLC Invests $202,000 in SPDR Gold Shares (NYSEARCA:GLD)

BNC Wealth Management LLC purchased a new position in SPDR Gold Shares (NYSEARCA:GLD) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 701 shares of the exchange traded fund’s stock, valued at approximately $202,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Marmo Financial Group LLC acquired a new position in shares of SPDR Gold Shares in the 1st quarter worth approximately $218,000. Azzad Asset Management Inc. ADV increased its stake in SPDR Gold Shares by 48.2% during the 1st quarter. Azzad Asset Management Inc. ADV now owns 3,033 shares of the exchange traded fund’s stock valued at $874,000 after purchasing an additional 987 shares in the last quarter. Elevation Point Wealth Partners LLC grew its stake in shares of SPDR Gold Shares by 5.9% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 21,533 shares of the exchange traded fund’s stock worth $6,205,000 after acquiring an additional 1,191 shares in the last quarter. Krilogy Financial LLC grew its stake in shares of SPDR Gold Shares by 27.7% in the 1st quarter. Krilogy Financial LLC now owns 17,038 shares of the exchange traded fund’s stock worth $4,909,000 after acquiring an additional 3,694 shares in the last quarter. Finally, Salem Investment Counselors Inc. grew its stake in shares of SPDR Gold Shares by 15.5% in the 1st quarter. Salem Investment Counselors Inc. now owns 753 shares of the exchange traded fund’s stock worth $217,000 after acquiring an additional 101 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

GLD opened at $316.29 on Friday. The firm has a market cap of $103.43 billion, a P/E ratio of -32.43 and a beta of 0.11. The firm has a 50-day moving average of $303.57 and a 200 day moving average of $274.67. SPDR Gold Shares has a fifty-two week low of $212.12 and a fifty-two week 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).