M1 Capital Management LLC Invests $375,000 in SPDR Gold Shares (NYSEARCA:GLD)

M1 Capital Management LLC acquired a new stake in SPDR Gold Shares (NYSEARCA:GLD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 1,550 shares of the exchange traded fund’s stock, valued at approximately $375,000.

Other institutional investors and hedge funds have also modified their holdings of the company. abrdn plc grew its holdings in SPDR Gold Shares by 93.7% in the 4th quarter. abrdn plc now owns 13,994 shares of the exchange traded fund’s stock valued at $3,391,000 after buying an additional 6,768 shares during the period. WMG Financial Advisors LLC raised its stake in SPDR Gold Shares by 18.9% during the fourth quarter. WMG Financial Advisors LLC now owns 5,344 shares of the exchange traded fund’s stock worth $1,294,000 after purchasing an additional 851 shares during the period. Cassaday & Co Wealth Management LLC boosted its holdings in shares of SPDR Gold Shares by 1.8% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 4,962 shares of the exchange traded fund’s stock valued at $1,201,000 after purchasing an additional 90 shares during the last quarter. Measured Wealth Private Client Group LLC grew its stake in shares of SPDR Gold Shares by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 64,674 shares of the exchange traded fund’s stock valued at $15,659,000 after buying an additional 3,356 shares during the period. Finally, BKM Wealth Management LLC increased its holdings in shares of SPDR Gold Shares by 5.9% during the 4th quarter. BKM Wealth Management LLC now owns 5,838 shares of the exchange traded fund’s stock worth $1,414,000 after buying an additional 327 shares during the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Down 1.7%

Shares of GLD opened at $304.50 on Wednesday. SPDR Gold Shares has a twelve month low of $211.54 and a twelve month high of $317.63. The firm has a market capitalization of $91.53 billion, a P/E ratio of -32.43 and a beta of 0.12. The stock’s fifty day simple moving average is $296.54 and its 200 day simple moving average is $268.91.

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).