Cornerstone Wealth Management LLC Raises Holdings in SPDR Gold Shares (NYSEARCA:GLD)

Cornerstone Wealth Management LLC boosted its stake in SPDR Gold Shares (NYSEARCA:GLD) by 4.0% during the first quarter, Holdings Channel.com reports. The firm owned 10,110 shares of the exchange traded fund’s stock after buying an additional 388 shares during the period. Cornerstone Wealth Management LLC’s holdings in SPDR Gold Shares were worth $2,913,000 at the end of the most recent quarter.

A number of other large investors have also bought and sold shares of the stock. Murphy & Mullick Capital Management Corp bought a new position in shares of SPDR Gold Shares in the fourth quarter worth approximately $26,000. Compass Planning Associates Inc purchased a new stake in SPDR Gold Shares during the 4th quarter valued at $39,000. American National Bank & Trust grew its holdings in SPDR Gold Shares by 189.4% in the 1st quarter. American National Bank & Trust now owns 191 shares of the exchange traded fund’s stock worth $55,000 after acquiring an additional 125 shares during the last quarter. Pittenger & Anderson Inc. increased its position in shares of SPDR Gold Shares by 25.9% in the fourth quarter. Pittenger & Anderson Inc. now owns 199 shares of the exchange traded fund’s stock valued at $48,000 after acquiring an additional 41 shares during the period. Finally, Mattson Financial Services LLC bought a new position in shares of SPDR Gold Shares during the fourth quarter valued at about $56,000. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Trading Up 0.1%

SPDR Gold Shares stock opened at $311.94 on Wednesday. The firm has a market cap of $102.00 billion, a P/E ratio of -32.43 and a beta of 0.11. SPDR Gold Shares has a 1-year low of $212.12 and a 1-year high of $317.63. The firm has a 50-day moving average of $304.84 and a 200-day moving average of $275.83.

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).