Pacific Point Advisors LLC Takes $1.66 Million Position in SPDR Gold Shares (NYSEARCA:GLD)

Pacific Point Advisors LLC purchased a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) in the fourth quarter, HoldingsChannel.com reports. The fund purchased 6,320 shares of the exchange traded fund’s stock, valued at approximately $1,659,000. SPDR Gold Shares comprises 1.0% of Pacific Point Advisors LLC’s investment portfolio, making the stock its 15th largest holding.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Clarus Group Inc. lifted its position in SPDR Gold Shares by 2.2% in the 4th quarter. Clarus Group Inc. now owns 1,825 shares of the exchange traded fund’s stock valued at $442,000 after acquiring an additional 40 shares in the last quarter. Kellett Wealth Advisors LLC increased its stake in SPDR Gold Shares by 3.6% in the 4th quarter. Kellett Wealth Advisors LLC now owns 1,160 shares of the exchange traded fund’s stock valued at $281,000 after buying an additional 40 shares during the last quarter. Wealth Advisors of Iowa LLC increased its stake in shares of SPDR Gold Shares by 3.9% during the 4th quarter. Wealth Advisors of Iowa LLC now owns 1,070 shares of the exchange traded fund’s stock worth $259,000 after purchasing an additional 40 shares during the last quarter. Pittenger & Anderson Inc. increased its stake in shares of SPDR Gold Shares by 25.9% during the 4th quarter. Pittenger & Anderson Inc. now owns 199 shares of the exchange traded fund’s stock worth $48,000 after purchasing an additional 41 shares during the last quarter. Finally, Smartleaf Asset Management LLC increased its stake in shares of SPDR Gold Shares by 2.7% during the 4th quarter. Smartleaf Asset Management LLC now owns 1,533 shares of the exchange traded fund’s stock worth $369,000 after purchasing an additional 41 shares during the last quarter. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Trading Down 0.9%

SPDR Gold Shares stock opened at $303.11 on Friday. The firm has a 50 day simple moving average of $294.89 and a 200 day simple moving average of $267.56. SPDR Gold Shares has a 1-year low of $211.54 and a 1-year high of $317.63. The firm has a market capitalization of $91.11 billion, a price-to-earnings ratio of -32.43 and a beta of 0.12.

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).