Prudential PLC Grows Position in SPDR Gold Shares (NYSEARCA:GLD)

Prudential PLC grew its stake in SPDR Gold Shares (NYSEARCA:GLD) by 4.1% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 330,729 shares of the exchange traded fund’s stock after buying an additional 12,970 shares during the period. SPDR Gold Shares comprises approximately 0.4% of Prudential PLC’s holdings, making the stock its 21st biggest position. Prudential PLC’s holdings in SPDR Gold Shares were worth $79,690,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLD. Proficio Capital Partners LLC raised its position in shares of SPDR Gold Shares by 24,245.2% during the 4th quarter. Proficio Capital Partners LLC now owns 60,753,703 shares of the exchange traded fund’s stock valued at $14,710,294,000 after purchasing an additional 60,504,152 shares during the period. Raymond James Financial Inc. purchased a new stake in SPDR Gold Shares in the 4th quarter worth $450,109,000. Wealthfront Advisers LLC raised its holdings in SPDR Gold Shares by 1,374.2% during 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 acquiring an additional 1,045,499 shares during the period. Strategic Financial Concepts LLC lifted its position in shares of SPDR Gold Shares by 24,600.9% in the fourth quarter. Strategic Financial Concepts LLC now owns 608,876 shares of the exchange traded fund’s stock valued at $147,427,000 after acquiring an additional 606,411 shares in the last quarter. Finally, Starr Indemnity & Liability Co bought a new position in shares of SPDR Gold Shares in the fourth quarter worth about $79,222,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Down 0.6 %

Shares of GLD opened at $286.42 on Friday. The business’s 50 day moving average is $270.43 and its 200 day moving average is $254.22. SPDR Gold Shares has a 12-month low of $210.71 and a 12-month high of $289.13. The company has a market capitalization of $86.10 billion, a PE ratio of -30.67 and a beta of 0.17.

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).