Avaii Wealth Management LLC Makes New $276,000 Investment in SPDR Gold Shares (NYSEARCA:GLD)

Avaii Wealth Management LLC purchased a new position in shares of SPDR Gold Shares (NYSEARCA:GLDGet Rating) in the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 1,614 shares of the exchange traded fund’s stock, valued at approximately $276,000.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Outfitter Financial LLC purchased a new stake in SPDR Gold Shares in the 4th quarter valued at about $26,000. Life Planning Partners Inc bought a new stake in shares of SPDR Gold Shares in the 4th quarter valued at about $29,000. Leverty Financial Group LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter valued at about $43,000. Bell Investment Advisors Inc bought a new stake in shares of SPDR Gold Shares in the 3rd quarter valued at about $44,000. Finally, Retirement Planning Co of New England Inc. bought a new stake in shares of SPDR Gold Shares in the 4th quarter valued at about $45,000. 33.15% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSEARCA GLD traded up $0.08 during trading hours on Friday, hitting $172.84. 191,792 shares of the stock were exchanged, compared to its average volume of 11,957,269. The firm has a fifty day moving average price of $177.54 and a 200-day moving average price of $174.01. SPDR Gold Shares has a 12 month low of $160.68 and a 12 month high of $193.30.

About SPDR Gold Shares (Get Rating)

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).

Further Reading

Want to see what other hedge funds are holding GLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR Gold Shares (NYSEARCA:GLDGet Rating).

Institutional Ownership by Quarter for SPDR Gold Shares (NYSEARCA:GLD)

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