Navis Wealth Advisors LLC boosted its holdings in SPDR Gold Shares (NYSEARCA:GLD – Get Rating) by 18.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,339 shares of the exchange traded fund’s stock after acquiring an additional 975 shares during the period. SPDR Gold Shares comprises about 0.9% of Navis Wealth Advisors LLC’s investment portfolio, making the stock its 24th biggest holding. Navis Wealth Advisors LLC’s holdings in SPDR Gold Shares were worth $1,084,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds have also added to or reduced their stakes in GLD. Outfitter Financial LLC bought a new stake in shares of SPDR Gold Shares during the fourth quarter valued at approximately $26,000. Leverty Financial Group LLC bought a new stake in shares of SPDR Gold Shares during the fourth quarter valued at approximately $43,000. Bell Investment Advisors Inc acquired a new position in shares of SPDR Gold Shares during the third quarter valued at approximately $44,000. Retirement Planning Co of New England Inc. acquired a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $45,000. Finally, Horan Securities Inc. acquired a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $45,000. 33.15% of the stock is currently owned by institutional investors.
Shares of NYSEARCA GLD traded up $2.49 during mid-day trading on Thursday, reaching $171.91. 10,572,364 shares of the company traded hands, compared to its average volume of 12,267,897. SPDR Gold Shares has a fifty-two week low of $160.68 and a fifty-two week high of $193.30. The stock has a fifty day simple moving average of $178.28 and a 200-day simple moving average of $173.85.
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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