Pointe Capital Management LLC Purchases 179 Shares of SPDR Gold Shares $GLD

Pointe Capital Management LLC boosted its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 1.2% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 14,976 shares of the exchange traded fund’s stock after buying an additional 179 shares during the quarter. SPDR Gold Shares makes up about 2.4% of Pointe Capital Management LLC’s portfolio, making the stock its 11th largest position. Pointe Capital Management LLC’s holdings in SPDR Gold Shares were worth $4,565,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. MJT & Associates Financial Advisory Group Inc. acquired a new position in shares of SPDR Gold Shares during the 1st quarter worth about $30,000. Stone House Investment Management LLC acquired a new position in shares of SPDR Gold Shares during the 1st quarter worth about $34,000. Legacy Wealth Managment LLC ID grew its position in shares of SPDR Gold Shares by 51.1% during the 1st quarter. Legacy Wealth Managment LLC ID now owns 136 shares of the exchange traded fund’s stock worth $39,000 after buying an additional 46 shares during the period. First Command Advisory Services Inc. acquired a new position in shares of SPDR Gold Shares during the 2nd quarter worth about $43,000. Finally, Abound Financial LLC acquired a new position in shares of SPDR Gold Shares during the 1st quarter worth about $56,000. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares Stock Performance

Shares of GLD opened at $368.78 on Tuesday. The stock has a 50 day simple moving average of $352.79 and a 200 day simple moving average of $323.24. SPDR Gold Shares has a 52-week low of $236.13 and a 52-week high of $403.30. The firm has a market capitalization of $133.46 billion, a PE ratio of -32.43 and a beta of 0.09.

SPDR Gold Shares Profile

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).