David R. Rahn & Associates Inc. increased its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 15.6% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 44,606 shares of the exchange traded fund’s stock after purchasing an additional 6,025 shares during the period. SPDR Gold Shares accounts for 7.3% of David R. Rahn & Associates Inc.’s investment portfolio, making the stock its 7th largest position. David R. Rahn & Associates Inc.’s holdings in SPDR Gold Shares were worth $7,466,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. ERTS Wealth Advisors LLC purchased a new position in SPDR Gold Shares during the fourth quarter valued at $30,000. Key Financial Inc purchased a new position in SPDR Gold Shares during the first quarter valued at $48,000. American Research & Management Co. purchased a new position in SPDR Gold Shares during the first quarter valued at $50,000. West Bancorporation Inc. purchased a new position in SPDR Gold Shares during the first quarter valued at $50,000. Finally, First Horizon Advisors Inc. raised its stake in SPDR Gold Shares by 49.6% during the first quarter. First Horizon Advisors Inc. now owns 380 shares of the exchange traded fund’s stock valued at $55,000 after buying an additional 126 shares during the last quarter.
Shares of GLD stock traded up $0.65 during mid-day trading on Tuesday, hitting $170.05. The company’s stock had a trading volume of 825,244 shares, compared to its average volume of 12,862,339. SPDR Gold Shares has a 52-week low of $132.13 and a 52-week high of $170.86. The business has a 50-day moving average price of $164.26 and a 200 day moving average price of $155.24.
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).
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