Optimum Investment Advisors Has $3.12 Million Position in SPDR Gold Shares (NYSEARCA:GLD)

Optimum Investment Advisors grew its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 1.6% in the first quarter, HoldingsChannel.com reports. The institutional investor owned 10,843 shares of the exchange traded fund’s stock after buying an additional 167 shares during the quarter. SPDR Gold Shares comprises approximately 1.5% of Optimum Investment Advisors’ portfolio, making the stock its 12th largest holding. Optimum Investment Advisors’ holdings in SPDR Gold Shares were worth $3,124,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Leigh Baldwin & CO. LLC acquired a new stake in shares of SPDR Gold Shares in the fourth quarter valued at $401,829,000. Ameriprise Financial Inc. increased its stake in shares of SPDR Gold Shares by 10.9% in the fourth quarter. Ameriprise Financial Inc. now owns 1,387,693 shares of the exchange traded fund’s stock valued at $335,909,000 after buying an additional 136,120 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of SPDR Gold Shares by 9.6% in the first quarter. Envestnet Asset Management Inc. now owns 1,217,861 shares of the exchange traded fund’s stock valued at $350,914,000 after buying an additional 106,648 shares in the last quarter. Wealthfront Advisers LLC increased its stake in shares of SPDR Gold Shares by 1,374.2% in 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 buying an additional 1,045,499 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its stake in shares of SPDR Gold Shares by 3.5% in the fourth quarter. Commonwealth Equity Services LLC now owns 980,065 shares of the exchange traded fund’s stock valued at $237,303,000 after buying an additional 32,712 shares in the last quarter. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Down 1.0%

Shares of GLD stock opened at $304.16 on Wednesday. The stock has a 50-day moving average price of $306.09 and a 200 day moving average price of $282.40. The firm has a market cap of $100.56 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 12 month low of $217.27 and a 12 month high of $317.63.

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).