PMG Wealth Management Inc. purchased a new stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 665 shares of the exchange traded fund’s stock, valued at approximately $203,000.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLD. MJT & Associates Financial Advisory Group Inc. acquired a new position in SPDR Gold Shares in the 1st quarter valued at $30,000. Columbia River Financial Group LLC bought a new stake in shares of SPDR Gold Shares during the 1st quarter worth $34,000. Stone House Investment Management LLC bought a new stake in shares of SPDR Gold Shares during the 1st quarter worth $34,000. Legacy Wealth Managment LLC ID lifted its position in shares of SPDR Gold Shares by 51.1% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 46 shares during the last quarter. Finally, HWG Holdings LP bought a new stake in shares of SPDR Gold Shares during the 1st quarter worth $53,000. 42.19% of the stock is owned by institutional investors and hedge funds.
SPDR Gold Shares Trading Up 0.6%
SPDR Gold Shares stock opened at $346.74 on Friday. The company has a market capitalization of $115.60 billion, a PE ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 12 month low of $236.13 and a 12 month high of $348.75. The stock has a 50-day moving average price of $320.20 and a two-hundred day moving average price of $307.01.
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).
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