1620 Investment Advisors Inc. Acquires New Position in SPDR Gold Shares (NYSEARCA:GLD)

1620 Investment Advisors Inc. acquired a new position in SPDR Gold Shares (NYSEARCA:GLD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 818 shares of the exchange traded fund’s stock, valued at approximately $198,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of GLD. Proficio Capital Partners LLC increased its holdings in 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 worth $14,710,294,000 after acquiring an additional 60,504,152 shares in the last quarter. Raymond James Financial Inc. purchased a new stake in shares of SPDR Gold Shares in the fourth quarter valued at about $450,109,000. Wealthfront Advisers LLC lifted its position 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 buying an additional 1,045,499 shares during the last quarter. Strategic Financial Concepts LLC lifted its position in SPDR Gold Shares by 24,600.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 608,876 shares of the exchange traded fund’s stock valued at $147,427,000 after buying an additional 606,411 shares during the last quarter. Finally, Diversify Advisory Services LLC lifted its position in SPDR Gold Shares by 446.0% in the fourth 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. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

Shares of GLD opened at $280.75 on Friday. The company’s 50-day simple moving average is $263.87 and its 200-day simple moving average is $250.73. The stock has a market capitalization of $84.39 billion, a PE ratio of -29.30 and a beta of 0.20. SPDR Gold Shares has a 1 year low of $199.72 and a 1 year high of $281.48.

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).