Traynor Capital Management Inc. lifted its position in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 17.7% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 15,321 shares of the exchange traded fund’s stock after acquiring an additional 2,300 shares during the quarter. Traynor Capital Management Inc.’s holdings in SPDR Gold Shares were worth $5,835,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently added to or reduced their stakes in GLD. Parvin Asset Management LLC bought a new stake in SPDR Gold Shares during the first quarter valued at $31,000. Livelsberger Financial Advisory bought a new position in shares of SPDR Gold Shares in the 3rd quarter worth about $30,000. NBH Bank acquired a new position in shares of SPDR Gold Shares in the 2nd quarter valued at about $41,000. IMG Wealth Management Inc. lifted its holdings in SPDR Gold Shares by 440.9% in the third quarter. IMG Wealth Management Inc. now owns 119 shares of the exchange traded fund’s stock worth $45,000 after acquiring an additional 97 shares during the last quarter. Finally, RHL Group LLC lifted its holdings in SPDR Gold Shares by 48.9% in the second quarter. RHL Group LLC now owns 131 shares of the exchange traded fund’s stock worth $48,000 after acquiring an additional 43 shares during the last quarter. 42.19% of the stock is currently owned by institutional investors.
SPDR Gold Shares Price Performance
Shares of GLD stock opened at $355.78 on Monday. The business has a 50 day moving average of $390.57 and a two-hundred day moving average of $412.97. SPDR Gold Shares has a 52 week low of $354.67 and a 52 week high of $509.70. The company has a market cap of $130.18 billion, a P/E ratio of -32.43 and a beta of 0.18.
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). 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.
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