Broyhill Asset Management Invests $2.10 Million in SPDR Gold Shares (NYSEARCA:GLD)

Broyhill Asset Management acquired a new position in SPDR Gold Shares (NYSEARCA:GLD) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 8,655 shares of the exchange traded fund’s stock, valued at approximately $2,096,000. SPDR Gold Shares accounts for 1.9% of Broyhill Asset Management’s investment portfolio, making the stock its 19th largest position.

Several other hedge funds and other institutional investors have also modified their holdings of GLD. Murphy & Mullick Capital Management Corp bought a new position in SPDR Gold Shares in the 4th quarter worth $26,000. Roxbury Financial LLC bought a new position in shares of SPDR Gold Shares in the fourth quarter worth about $31,000. PayPay Securities Corp boosted its stake in SPDR Gold Shares by 55.3% during the 4th quarter. PayPay Securities Corp now owns 132 shares of the exchange traded fund’s stock valued at $32,000 after purchasing an additional 47 shares during the period. Compass Planning Associates Inc bought a new position in SPDR Gold Shares in the 4th quarter worth approximately $39,000. Finally, Keystone Financial Group Inc. bought a new stake in shares of SPDR Gold Shares in the fourth quarter valued at approximately $39,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 1.9 %

Shares of GLD stock opened at $297.93 on Monday. The firm has a market capitalization of $89.56 billion, a P/E ratio of -30.67 and a beta of 0.17. SPDR Gold Shares has a 1 year low of $210.71 and a 1 year high of $299.28. The firm’s fifty day simple moving average is $274.59 and its 200 day simple moving average is $256.63.

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).