Global Wealth Management LLC Invests $289,000 in SPDR Gold Shares (NYSEARCA:GLD)

Global Wealth Management LLC acquired a new position in SPDR Gold Shares (NYSEARCA:GLD) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 1,190 shares of the exchange traded fund’s stock, valued at approximately $289,000. SPDR Gold Shares makes up about 0.2% of Global Wealth Management LLC’s investment portfolio, making the stock its 21st biggest position.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in GLD. Obermeyer Wood Investment Counsel Lllp raised its stake in shares of SPDR Gold Shares by 4.4% in the second quarter. Obermeyer Wood Investment Counsel Lllp now owns 11,645 shares of the exchange traded fund’s stock worth $2,504,000 after purchasing an additional 490 shares during the last quarter. Linden Thomas Advisory Services LLC boosted its holdings in shares of SPDR Gold Shares by 5.1% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 4,945 shares of the exchange traded fund’s stock valued at $1,063,000 after acquiring an additional 239 shares during the last quarter. Independence Bank of Kentucky increased its stake in shares of SPDR Gold Shares by 9.8% in the first quarter. Independence Bank of Kentucky now owns 2,070 shares of the exchange traded fund’s stock worth $426,000 after acquiring an additional 185 shares during the period. RDA Financial Network raised its holdings in shares of SPDR Gold Shares by 1.8% during the third quarter. RDA Financial Network now owns 5,064 shares of the exchange traded fund’s stock worth $1,231,000 after purchasing an additional 88 shares during the last quarter. Finally, Mission Wealth Management LP lifted its position in SPDR Gold Shares by 10.8% during the first quarter. Mission Wealth Management LP now owns 5,251 shares of the exchange traded fund’s stock valued at $1,080,000 after purchasing an additional 512 shares during the period. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Price Performance

GLD traded up $0.52 during midday trading on Friday, hitting $253.32. 4,424,475 shares of the company were exchanged, compared to its average volume of 6,397,792. The company’s 50 day simple moving average is $240.12 and its 200 day simple moving average is $226.29. SPDR Gold Shares has a 1-year low of $179.11 and a 1-year high of $253.94.

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).