Peregrine Asset Advisers Inc. Purchases 6,700 Shares of SPDR Gold Shares (NYSEARCA:GLD)

Peregrine Asset Advisers Inc. increased its position in SPDR Gold Shares (NYSEARCA:GLD) by 218.9% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 9,761 shares of the exchange traded fund’s stock after buying an additional 6,700 shares during the quarter. SPDR Gold Shares comprises 1.1% of Peregrine Asset Advisers Inc.’s holdings, making the stock its 28th largest position. Peregrine Asset Advisers Inc.’s holdings in SPDR Gold Shares were worth $2,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Murphy & Mullick Capital Management Corp bought a new stake in SPDR Gold Shares in the 4th quarter worth approximately $26,000. Columbia River Financial Group LLC bought a new stake in SPDR Gold Shares in the first quarter valued at approximately $34,000. HWG Holdings LP bought a new stake in SPDR Gold Shares in the first quarter valued at approximately $53,000. Inlight Wealth Management LLC bought a new stake in SPDR Gold Shares in the first quarter valued at approximately $55,000. Finally, American National Bank & Trust lifted its position in SPDR Gold Shares by 189.4% in the first quarter. American National Bank & Trust now owns 191 shares of the exchange traded fund’s stock valued at $55,000 after purchasing an additional 125 shares during the last quarter. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

Shares of GLD stock opened at $308.39 on Monday. SPDR Gold Shares has a fifty-two week low of $217.52 and a fifty-two week high of $317.63. The stock has a 50 day moving average price of $306.41 and a two-hundred day moving average price of $286.34. The company has a market capitalization of $101.98 billion, a P/E ratio of -32.43 and a beta of 0.15.

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).