Ridgecrest Wealth Partners LLC Purchases New Position in SPDR Gold Shares (NYSEARCA:GLD)

Ridgecrest Wealth Partners LLC acquired a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 3,194 shares of the exchange traded fund’s stock, valued at approximately $657,000.

A number of other institutional investors have also recently added to or reduced their stakes in the business. First Personal Financial Services acquired a new stake in shares of SPDR Gold Shares in the 4th quarter valued at $25,000. Frazier Financial Advisors LLC bought a new position in SPDR Gold Shares during the fourth quarter valued at about $26,000. Northwest Investment Counselors LLC acquired a new stake in shares of SPDR Gold Shares in the first quarter worth about $26,000. Gold Investment Management Ltd. bought a new stake in shares of SPDR Gold Shares during the 4th quarter worth about $27,000. Finally, Security National Bank acquired a new position in shares of SPDR Gold Shares during the 1st quarter valued at about $28,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Price Performance

Shares of GLD stock opened at $215.01 on Friday. The stock’s 50 day simple moving average is $216.20 and its 200 day simple moving average is $202.82. SPDR Gold Shares has a twelve month low of $168.30 and a twelve month high of $225.66.

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).