SPDR Gold Shares $GLD Position Boosted by Drive Wealth Management LLC

Drive Wealth Management LLC raised its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 65.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,738 shares of the exchange traded fund’s stock after acquiring an additional 685 shares during the period. Drive Wealth Management LLC’s holdings in SPDR Gold Shares were worth $530,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GLD. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of SPDR Gold Shares during the first quarter valued at $30,000. Columbia River Financial Group LLC bought a new position in SPDR Gold Shares in the 1st quarter valued at about $34,000. Stone House Investment Management LLC acquired a new position in SPDR Gold Shares during the 1st quarter valued at about $34,000. Legacy Wealth Managment LLC ID raised its position in shares of SPDR Gold Shares by 51.1% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 46 shares in the last quarter. Finally, HWG Holdings LP bought a new stake in shares of SPDR Gold Shares during the 1st quarter worth about $53,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

SPDR Gold Shares stock opened at $403.15 on Tuesday. SPDR Gold Shares has a 12-month low of $236.13 and a 12-month high of $403.30. The stock has a market capitalization of $144.01 billion, a PE ratio of -32.43 and a beta of 0.15. The firm has a 50 day simple moving average of $340.15 and a 200-day simple moving average of $317.34.

SPDR Gold Shares 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).