MGB Wealth Management LLC Increases Position in SPDR Gold Shares (NYSEARCA:GLD)

MGB Wealth Management LLC boosted its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 26.9% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,207 shares of the exchange traded fund’s stock after purchasing an additional 1,103 shares during the period. MGB Wealth Management LLC’s holdings in SPDR Gold Shares were worth $1,069,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of GLD. First Personal Financial Services bought a new position in shares of SPDR Gold Shares during the fourth quarter worth about $25,000. Frazier Financial Advisors LLC bought a new position in SPDR Gold Shares during the 4th quarter worth approximately $26,000. Northwest Investment Counselors LLC acquired a new position in shares of SPDR Gold Shares in the 1st quarter worth approximately $26,000. Gold Investment Management Ltd. bought a new stake in shares of SPDR Gold Shares in the 4th quarter valued at approximately $27,000. Finally, Security National Bank bought a new stake in shares of SPDR Gold Shares in the 1st quarter valued at approximately $28,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

GLD traded up $0.07 during trading hours on Friday, hitting $223.32. 3,659,741 shares of the stock were exchanged, compared to its average volume of 7,207,604. The stock has a 50-day simple moving average of $216.89 and a 200-day simple moving average of $204.60. SPDR Gold Shares has a 12 month low of $168.30 and a 12 month high of $225.66.

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).