Parkworth Wealth Management Inc. Makes New Investment in SPDR Gold Shares (NYSEARCA:GLD)

Parkworth Wealth Management Inc. purchased a new stake in SPDR Gold Shares (NYSEARCA:GLD) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 3,702 shares of the exchange traded fund’s stock, valued at approximately $896,000. SPDR Gold Shares makes up 0.7% of Parkworth Wealth Management Inc.’s holdings, making the stock its 28th biggest holding.

Several other large investors have also added to or reduced their stakes in the business. abrdn plc raised its position in shares of SPDR Gold Shares by 93.7% in the fourth quarter. abrdn plc now owns 13,994 shares of the exchange traded fund’s stock valued at $3,391,000 after purchasing an additional 6,768 shares during the period. WMG Financial Advisors LLC increased its stake in shares of SPDR Gold Shares by 18.9% in the 4th quarter. WMG Financial Advisors LLC now owns 5,344 shares of the exchange traded fund’s stock valued at $1,294,000 after acquiring an additional 851 shares in the last quarter. Cassaday & Co Wealth Management LLC grew its position in SPDR Gold Shares by 1.8% in the 4th quarter. Cassaday & Co Wealth Management LLC now owns 4,962 shares of the exchange traded fund’s stock valued at $1,201,000 after purchasing an additional 90 shares during the period. Measured Wealth Private Client Group LLC boosted its holdings in SPDR Gold Shares by 5.5% during the 4th quarter. Measured Wealth Private Client Group LLC now owns 64,674 shares of the exchange traded fund’s stock worth $15,659,000 after acquiring an additional 3,356 shares during the last quarter. Finally, BKM Wealth Management LLC raised its stake in shares of SPDR Gold Shares by 5.9% during the 4th quarter. BKM Wealth Management LLC now owns 5,838 shares of the exchange traded fund’s stock worth $1,414,000 after purchasing an additional 327 shares during the period. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

Shares of SPDR Gold Shares stock opened at $269.16 on Wednesday. SPDR Gold Shares has a 52-week low of $198.94 and a 52-week high of $272.32. The stock’s 50-day simple moving average is $259.29 and its 200 day simple moving average is $248.79. The stock has a market capitalization of $80.91 billion, a P/E ratio of -28.59 and a beta of 0.20.

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).