Hughes Financial Services LLC Buys New Position in SPDR Gold Shares $GLD

Hughes Financial Services LLC purchased a new position in shares of SPDR Gold Shares (NYSEARCA:GLD) during the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 500 shares of the exchange traded fund’s stock, valued at approximately $155,000.

A number of other institutional investors have also recently made changes to their positions in the business. Raymond James Financial Inc. increased its position in shares of SPDR Gold Shares by 11.0% during the first quarter. Raymond James Financial Inc. now owns 2,063,634 shares of the exchange traded fund’s stock worth $594,616,000 after acquiring an additional 204,676 shares during the period. Ameriprise Financial Inc. raised its position in SPDR Gold Shares by 12.2% in the 1st quarter. Ameriprise Financial Inc. now owns 1,556,698 shares of the exchange traded fund’s stock valued at $450,902,000 after purchasing an additional 169,005 shares in the last quarter. 59 North Capital Management LP boosted its stake in shares of SPDR Gold Shares by 76.4% in the 1st quarter. 59 North Capital Management LP now owns 1,263,196 shares of the exchange traded fund’s stock valued at $363,977,000 after buying an additional 547,018 shares during the period. Commonwealth Equity Services LLC grew its position in shares of SPDR Gold Shares by 16.5% during the first quarter. Commonwealth Equity Services LLC now owns 1,141,703 shares of the exchange traded fund’s stock worth $328,970,000 after buying an additional 161,638 shares in the last quarter. Finally, Cetera Investment Advisers increased its stake in shares of SPDR Gold Shares by 15.0% during the first quarter. Cetera Investment Advisers now owns 821,760 shares of the exchange traded fund’s stock worth $236,782,000 after buying an additional 107,469 shares during the period. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 0.6%

NYSEARCA GLD opened at $368.31 on Monday. SPDR Gold Shares has a 52 week low of $236.13 and a 52 week high of $403.30. The firm has a 50 day moving average of $356.89 and a two-hundred day moving average of $324.83. The stock has a market capitalization of $133.29 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).