Cascades Capital Asset Management LLC Takes Position in SPDR Gold Shares (NYSEARCA:GLD)

Cascades Capital Asset Management LLC bought a new position in shares of SPDR Gold Shares (NYSEARCA:GLD) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 900 shares of the exchange traded fund’s stock, valued at approximately $218,000.

Several other hedge funds have also recently bought and sold shares of GLD. Proficio Capital Partners LLC raised its holdings in shares of SPDR Gold Shares by 24,245.2% during the 4th quarter. Proficio Capital Partners LLC now owns 60,753,703 shares of the exchange traded fund’s stock valued at $14,710,294,000 after buying an additional 60,504,152 shares during the period. Raymond James Financial Inc. acquired a new stake in SPDR Gold Shares in the fourth quarter valued at approximately $450,109,000. Wealthfront Advisers LLC raised its stake in shares of SPDR Gold Shares by 1,374.2% during 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 purchasing an additional 1,045,499 shares during the period. Strategic Financial Concepts LLC lifted its position in shares of SPDR Gold Shares by 24,600.9% during the fourth quarter. Strategic Financial Concepts LLC now owns 608,876 shares of the exchange traded fund’s stock worth $147,427,000 after purchasing an additional 606,411 shares in the last quarter. Finally, Mizuho Bank Ltd. purchased a new position in shares of SPDR Gold Shares in the fourth quarter valued at $145,278,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

SPDR Gold Shares stock opened at $279.72 on Friday. SPDR Gold Shares has a 12-month low of $210.71 and a 12-month high of $289.13. The company has a market capitalization of $84.08 billion, a price-to-earnings ratio of -30.67 and a beta of 0.17. The firm’s fifty day moving average price is $270.91 and its 200 day moving average price is $254.62.

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).