Wealth Effects LLC Grows Position in SPDR Gold Shares (NYSEARCA:GLD)

Wealth Effects LLC lifted its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 9.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,408 shares of the exchange traded fund’s stock after purchasing an additional 200 shares during the quarter. Wealth Effects LLC’s holdings in SPDR Gold Shares were worth $694,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Cornerstone Wealth Management LLC lifted its stake in SPDR Gold Shares by 4.0% during the 1st quarter. Cornerstone Wealth Management LLC now owns 10,110 shares of the exchange traded fund’s stock worth $2,913,000 after acquiring an additional 388 shares in the last quarter. Marmo Financial Group LLC acquired a new position in SPDR Gold Shares during the 1st quarter worth about $218,000. WMG Financial Advisors LLC lifted its stake in SPDR Gold Shares by 18.9% during the 4th quarter. WMG Financial Advisors LLC now owns 5,344 shares of the exchange traded fund’s stock worth $1,294,000 after acquiring an additional 851 shares in the last quarter. Lloyd Advisory Services LLC. acquired a new position in SPDR Gold Shares during the 1st quarter worth about $217,000. Finally, Horizon Wealth Management LLC lifted its stake in SPDR Gold Shares by 61.6% during the 1st quarter. Horizon Wealth Management LLC now owns 82,640 shares of the exchange traded fund’s stock worth $23,812,000 after acquiring an additional 31,514 shares in the last quarter. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Trading Up 0.3%

GLD opened at $307.12 on Thursday. The stock’s 50-day moving average price is $306.39 and its 200 day moving average price is $278.32. SPDR Gold Shares has a 12-month low of $212.12 and a 12-month high of $317.63. The firm has a market cap of $100.43 billion, a price-to-earnings ratio of -32.43 and a beta of 0.11.

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).