SCP Investment LP Makes New Investment in SPDR Gold Shares (NYSEARCA:GLD)

SCP Investment LP acquired a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) during the fourth quarter, Holdings Channel reports. The institutional investor acquired 1,001 shares of the exchange traded fund’s stock, valued at approximately $242,000.

Several other hedge funds have also recently made changes to their positions in the company. Proficio Capital Partners LLC boosted its holdings in shares of SPDR Gold Shares by 24,245.2% in the 4th quarter. Proficio Capital Partners LLC now owns 60,753,703 shares of the exchange traded fund’s stock valued at $14,710,294,000 after acquiring an additional 60,504,152 shares during the last quarter. Raymond James Financial Inc. acquired a new position in SPDR Gold Shares during the fourth quarter valued at $450,109,000. Wealthfront Advisers LLC boosted its holdings in SPDR Gold Shares by 1,374.2% in the fourth quarter. Wealthfront Advisers LLC now owns 1,121,579 shares of the exchange traded fund’s stock valued at $271,568,000 after purchasing an additional 1,045,499 shares during the last quarter. Strategic Financial Concepts LLC grew its position in SPDR Gold Shares by 24,600.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 608,876 shares of the exchange traded fund’s stock worth $147,427,000 after purchasing an additional 606,411 shares during the period. Finally, Diversify Advisory Services LLC raised its stake in shares of SPDR Gold Shares by 446.0% during the 4th quarter. Diversify Advisory Services LLC now owns 239,355 shares of the exchange traded fund’s stock valued at $59,410,000 after buying an additional 195,520 shares during the last quarter. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Up 0.7 %

Shares of GLD opened at $284.06 on Friday. The company has a market capitalization of $85.39 billion, a price-to-earnings ratio of -29.30 and a beta of 0.20. SPDR Gold Shares has a 52 week low of $206.29 and a 52 week high of $284.64. The stock’s 50-day moving average price is $267.64 and its 200-day moving average price is $252.90.

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).