Grove Bank & Trust Takes Position in SPDR Gold Shares (NYSEARCA:GLD)

Grove Bank & Trust purchased a new position in SPDR Gold Shares (NYSEARCA:GLD) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 16,887 shares of the exchange traded fund’s stock, valued at approximately $4,105,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Triad Wealth Partners LLC purchased a new stake in shares of SPDR Gold Shares in the second quarter worth $25,000. Semmax Financial Advisors Inc. grew its position in SPDR Gold Shares by 78.7% during the 2nd quarter. Semmax Financial Advisors Inc. now owns 109 shares of the exchange traded fund’s stock valued at $25,000 after purchasing an additional 48 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in SPDR Gold Shares during the 1st quarter valued at about $26,000. Private Ocean LLC raised its holdings in SPDR Gold Shares by 155.1% in the second quarter. Private Ocean LLC now owns 125 shares of the exchange traded fund’s stock worth $27,000 after buying an additional 76 shares during the last quarter. Finally, Security National Bank bought a new position in shares of SPDR Gold Shares in the first quarter worth approximately $28,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of GLD traded down $1.00 on Monday, hitting $244.47. 2,289,854 shares of the stock traded hands, compared to its average volume of 6,994,049. SPDR Gold Shares has a one year low of $177.54 and a one year high of $247.37. The business has a 50 day simple moving average of $235.20 and a 200 day simple moving average of $223.75.

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).