Pinnacle Associates Ltd. Acquires 60 Shares of SPDR Gold Shares (NYSEARCA:GLD)

Pinnacle Associates Ltd. boosted its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 0.5% during the third quarter, Holdings Channel.com reports. The fund owned 11,485 shares of the exchange traded fund’s stock after buying an additional 60 shares during the quarter. Pinnacle Associates Ltd.’s holdings in SPDR Gold Shares were worth $2,792,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Obermeyer Wood Investment Counsel Lllp lifted its holdings in shares of SPDR Gold Shares by 4.4% during the 2nd quarter. Obermeyer Wood Investment Counsel Lllp now owns 11,645 shares of the exchange traded fund’s stock worth $2,504,000 after acquiring an additional 490 shares during the last quarter. Linden Thomas Advisory Services LLC lifted its stake in SPDR Gold Shares by 5.1% during the second quarter. Linden Thomas Advisory Services LLC now owns 4,945 shares of the exchange traded fund’s stock worth $1,063,000 after purchasing an additional 239 shares during the last quarter. RDA Financial Network boosted its holdings in shares of SPDR Gold Shares by 1.8% in the 3rd quarter. RDA Financial Network now owns 5,064 shares of the exchange traded fund’s stock worth $1,231,000 after purchasing an additional 88 shares in the last quarter. Mission Wealth Management LP increased its position in shares of SPDR Gold Shares by 10.8% during the 1st quarter. Mission Wealth Management LP now owns 5,251 shares of the exchange traded fund’s stock valued at $1,080,000 after purchasing an additional 512 shares during the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in shares of SPDR Gold Shares by 32.5% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 51,784 shares of the exchange traded fund’s stock valued at $10,653,000 after buying an additional 12,714 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

NYSEARCA:GLD opened at $253.59 on Friday. The business has a 50 day moving average of $242.02 and a 200 day moving average of $227.34. SPDR Gold Shares has a 1-year low of $179.11 and a 1-year high of $257.71.

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).