Marks Wealth LLC Invests $12.26 Million in SPDR Gold Shares $GLD

Marks Wealth LLC acquired a new stake in SPDR Gold Shares (NYSEARCA:GLDFree Report) during the third quarter, according to its most recent 13F filing with the SEC. The fund acquired 34,500 shares of the exchange traded fund’s stock, valued at approximately $12,264,000. SPDR Gold Shares accounts for 3.8% of Marks Wealth LLC’s portfolio, making the stock its 11th largest holding.

Several other institutional investors have also added to or reduced their stakes in the business. Wilmington Savings Fund Society FSB lifted its stake in shares of SPDR Gold Shares by 15.8% during the 3rd quarter. Wilmington Savings Fund Society FSB now owns 72,576 shares of the exchange traded fund’s stock valued at $25,799,000 after buying an additional 9,911 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd grew its stake in SPDR Gold Shares by 4.1% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 81,391 shares of the exchange traded fund’s stock valued at $28,932,000 after buying an additional 3,175 shares in the last quarter. Sunbeam Capital Management LLC raised its holdings in SPDR Gold Shares by 6.4% during the 3rd quarter. Sunbeam Capital Management LLC now owns 1,371 shares of the exchange traded fund’s stock valued at $487,000 after acquiring an additional 82 shares during the period. Wealth Effects LLC lifted its position in shares of SPDR Gold Shares by 2.3% during the third quarter. Wealth Effects LLC now owns 1,411 shares of the exchange traded fund’s stock worth $502,000 after acquiring an additional 32 shares in the last quarter. Finally, Magnus Financial Group LLC lifted its position in shares of SPDR Gold Shares by 2.0% during the third quarter. Magnus Financial Group LLC now owns 8,147 shares of the exchange traded fund’s stock worth $2,896,000 after acquiring an additional 161 shares in the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.

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SPDR Gold Shares Stock Performance

Shares of NYSEARCA GLD opened at $423.33 on Friday. The stock has a market cap of $157.52 billion, a PE ratio of -32.43 and a beta of 0.09. SPDR Gold Shares has a fifty-two week low of $249.15 and a fifty-two week high of $426.86. The stock has a fifty day moving average of $394.67 and a 200-day moving average of $354.91.

SPDR Gold Shares Company Profile

(Free Report)

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). The Trust issues Shares in Baskets to certain authorized participants (Authorized Participants) on an ongoing basis. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of gold and any cash represented by the Baskets being created or redeemed, the amount of which will be based on the combined net asset value of various Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.

Further Reading

Institutional Ownership by Quarter for SPDR Gold Shares (NYSEARCA:GLD)

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