149,642 Shares in SPDR Gold Shares (NYSEARCA:GLD) Acquired by GenWealth Group Inc.

GenWealth Group Inc. acquired a new position in SPDR Gold Shares (NYSEARCA:GLD) during the first quarter, Holdings Channel reports. The institutional investor acquired 149,642 shares of the exchange traded fund’s stock, valued at approximately $43,118,000. SPDR Gold Shares makes up about 9.5% of GenWealth Group Inc.’s portfolio, making the stock its 3rd largest holding.

A number of other hedge funds have also recently added to or reduced their stakes in GLD. Marcum Wealth LLC boosted its position in SPDR Gold Shares by 4.3% during the first quarter. Marcum Wealth LLC now owns 954 shares of the exchange traded fund’s stock worth $275,000 after purchasing an additional 39 shares during the period. Clarus Group Inc. boosted its position in SPDR Gold Shares by 2.2% during the fourth quarter. Clarus Group Inc. now owns 1,825 shares of the exchange traded fund’s stock worth $442,000 after purchasing an additional 40 shares during the period. Kellett Wealth Advisors LLC boosted its position in SPDR Gold Shares by 3.6% during the fourth quarter. Kellett Wealth Advisors LLC now owns 1,160 shares of the exchange traded fund’s stock worth $281,000 after purchasing an additional 40 shares during the period. Wealth Advisors of Iowa LLC boosted its position in SPDR Gold Shares by 3.9% during the fourth 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 period. Finally, Somerset Trust Co boosted its position in SPDR Gold Shares by 2.4% during the first quarter. Somerset Trust Co now owns 1,730 shares of the exchange traded fund’s stock worth $498,000 after purchasing an additional 40 shares during the period. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Down 0.9%

Shares of SPDR Gold Shares stock opened at $308.91 on Wednesday. The stock has a market capitalization of $101.01 billion, a P/E ratio of -32.43 and a beta of 0.11. The stock has a 50 day moving average price of $299.32 and a two-hundred day moving average price of $271.27. SPDR Gold Shares has a 12-month low of $211.54 and a 12-month high of $317.63.

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).