Summit Financial Strategies Inc. Boosts Stock Holdings in SPDR Gold Shares (NYSEARCA:GLD)

Summit Financial Strategies Inc. grew its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 1.7% in the 2nd quarter, Holdings Channel.com reports. The firm owned 10,080 shares of the exchange traded fund’s stock after buying an additional 165 shares during the period. Summit Financial Strategies Inc.’s holdings in SPDR Gold Shares were worth $2,167,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently made changes to their positions in the company. Triad Wealth Partners LLC purchased a new stake in shares of SPDR Gold Shares during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new stake in shares of SPDR Gold Shares during the first quarter worth $26,000. Frazier Financial Advisors LLC purchased a new position in shares of SPDR Gold Shares in the fourth quarter worth about $26,000. Security National Bank acquired a new position in SPDR Gold Shares during the first quarter worth about $28,000. Finally, Gold Investment Management Ltd. purchased a new stake in SPDR Gold Shares during the 4th quarter valued at about $27,000. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Price Performance

Shares of GLD stock traded up $5.08 during trading hours on Friday, reaching $231.99. The company had a trading volume of 11,924,536 shares, compared to its average volume of 7,228,174. SPDR Gold Shares has a 12-month low of $168.30 and a 12-month high of $232.02. The stock has a fifty day moving average of $220.39 and a 200-day moving average of $211.14.

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).