Bayshore Asset Management LLC Makes New $2.44 Million Investment in SPDR Gold Shares (NYSEARCA:GLD)

Bayshore Asset Management LLC acquired a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) in the third quarter, HoldingsChannel.com reports. The firm acquired 10,033 shares of the exchange traded fund’s stock, valued at approximately $2,439,000. SPDR Gold Shares accounts for approximately 1.1% of Bayshore Asset Management LLC’s portfolio, making the stock its 17th biggest position.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Integrity Financial Corp WA purchased a new stake in shares of SPDR Gold Shares during the 3rd quarter valued at about $283,000. Raleigh Capital Management Inc. lifted its holdings in shares of SPDR Gold Shares by 62.0% during the 3rd quarter. Raleigh Capital Management Inc. now owns 6,731 shares of the exchange traded fund’s stock valued at $1,636,000 after buying an additional 2,576 shares during the period. GFG Capital LLC grew its position in SPDR Gold Shares by 23.3% during the third quarter. GFG Capital LLC now owns 4,458 shares of the exchange traded fund’s stock valued at $1,084,000 after buying an additional 842 shares during the period. Horst & Graben Wealth Management LLC purchased a new stake in SPDR Gold Shares during the third quarter valued at approximately $218,000. Finally, WJ Interests LLC bought a new position in SPDR Gold Shares in the third quarter worth approximately $213,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

NYSEARCA:GLD opened at $251.23 on Tuesday. The business has a fifty day moving average price of $238.17 and a 200-day moving average price of $225.40. SPDR Gold Shares has a one year low of $179.11 and a one year high of $253.14.

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).