Welch Group Increases Stake in SPDR Gold Shares to $2.42 Million

Welch Group LLC has increased its investment in SPDR Gold Shares (NYSEARCA:GLD) by 4.6%, raising its holdings to a total value of approximately $2.42 million. This adjustment was noted in the firm’s most recent 13F filing with the Securities and Exchange Commission (SEC) for the second quarter of 2023. The institutional investor now holds 7,944 shares of the exchange-traded fund (ETF) after acquiring an additional 348 shares during the quarter.

Several prominent investors have also expanded their positions in SPDR Gold Shares. For instance, Cornerstone Wealth Management LLC increased its stake by 4.0% in the first quarter. It now owns 10,110 shares, valued at $2.91 million, following the purchase of 388 shares in the last quarter.

Additionally, American National Bank & Trust significantly boosted its holdings by 52.4% in the second quarter, bringing its total to 291 shares, worth $89,000, after acquiring 100 shares. Similarly, StrongBox Wealth LLC raised its position by 10.1%, owning 1,487 shares valued at $453,000 after buying 136 shares.

TD Private Client Wealth LLC also increased its position by 14.6%, now holding 51,235 shares valued at $15.62 million after purchasing an additional 6,540 shares. Lastly, Beaumont Financial Advisors LLC raised its stake by 6.5%, acquiring a total of 3,509 shares worth $1.07 million after buying 215 shares.

According to recent data, institutional investors and hedge funds collectively own 42.19% of SPDR Gold Shares. The stock opened at $369.12 on Monday, reflecting a 1.0% increase. Over the past twelve months, SPDR Gold Shares has seen a low of $236.13 and a high of $373.57. The ETF currently has a market capitalization of $130.82 billion, a price-to-earnings ratio of -32.43, and a beta of 0.15. Its fifty-day moving average stands at $330.80, while the two-hundred-day moving average is $313.00.

SPDR Gold Trust, the entity behind SPDR Gold Shares, is an investment trust aimed at reflecting the performance of gold bullion prices, minus the trust’s expenses. The trust creates and redeems shares periodically, in blocks known as Baskets, each consisting of 100,000 shares.

For those interested in tracking additional hedge fund activities related to SPDR Gold Shares, resources such as HoldingsChannel.com provide up-to-date information on 13F filings and insider trades.

As the market continues to fluctuate, the moves by these institutional investors highlight the ongoing interest in gold as a stable investment asset.