Acorn Financial Advisory Services Inc. ADV Invests $356,000 in SPDR Gold Shares $GLD

Acorn Financial Advisory Services Inc. ADV acquired a new position in SPDR Gold Shares (NYSEARCA:GLD) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 1,167 shares of the exchange traded fund’s stock, valued at approximately $356,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLD. Brighton Jones LLC boosted its holdings in shares of SPDR Gold Shares by 20.4% in the 4th quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after purchasing an additional 1,903 shares in the last quarter. Bison Wealth LLC boosted its holdings in SPDR Gold Shares by 77.8% during the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after acquiring an additional 2,600 shares during the period. GAMMA Investing LLC grew its position in SPDR Gold Shares by 226.0% during the 1st quarter. GAMMA Investing LLC now owns 577 shares of the exchange traded fund’s stock worth $166,000 after acquiring an additional 400 shares during the last quarter. Azzad Asset Management Inc. ADV increased its stake in SPDR Gold Shares by 48.2% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 3,033 shares of the exchange traded fund’s stock worth $874,000 after purchasing an additional 987 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its stake in SPDR Gold Shares by 34.4% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 250,469 shares of the exchange traded fund’s stock worth $72,171,000 after purchasing an additional 64,154 shares during the period. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

Shares of SPDR Gold Shares stock opened at $378.09 on Tuesday. SPDR Gold Shares has a 52-week low of $236.13 and a 52-week high of $378.86. The company’s 50 day moving average price is $332.14 and its 200-day moving average price is $313.66. The stock has a market capitalization of $134.00 billion, a price-to-earnings 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).