SpringVest Wealth Management LLC Takes Position in SPDR Gold Shares (NYSEARCA:GLD)

SpringVest Wealth Management LLC bought a new stake in SPDR Gold Shares (NYSEARCA:GLD) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 5,328 shares of the exchange traded fund’s stock, valued at approximately $1,290,000. SPDR Gold Shares accounts for about 1.1% of SpringVest Wealth Management LLC’s portfolio, making the stock its 18th largest position.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in GLD. Murphy & Mullick Capital Management Corp purchased a new position in SPDR Gold Shares during the 4th quarter worth approximately $26,000. Roxbury Financial LLC purchased a new stake in shares of SPDR Gold Shares in the 4th quarter valued at $31,000. PayPay Securities Corp increased its stake in shares of SPDR Gold Shares by 55.3% in the fourth quarter. PayPay Securities Corp now owns 132 shares of the exchange traded fund’s stock worth $32,000 after acquiring an additional 47 shares during the period. Compass Planning Associates Inc purchased a new position in shares of SPDR Gold Shares during the fourth quarter worth $39,000. Finally, Keystone Financial Group Inc. purchased a new position in shares of SPDR Gold Shares during the fourth quarter worth $39,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

NYSEARCA:GLD opened at $304.50 on Wednesday. SPDR Gold Shares has a one year low of $211.54 and a one year high of $317.63. The firm has a market cap of $91.53 billion, a price-to-earnings ratio of -32.43 and a beta of 0.12. The firm’s fifty day moving average is $296.54 and its two-hundred day moving average is $268.91.

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).