Staley Capital Advisers Inc. lessened its stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 6.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 170,619 shares of the exchange traded fund’s stock after selling 11,533 shares during the quarter. SPDR Gold Shares makes up approximately 2.8% of Staley Capital Advisers Inc.’s portfolio, making the stock its 9th biggest holding. Staley Capital Advisers Inc.’s holdings in SPDR Gold Shares were worth $67,618,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. WPG Advisers LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter worth approximately $25,000. Hopwood Financial Services Inc. bought a new stake in shares of SPDR Gold Shares in the 3rd quarter worth approximately $27,000. Vestwell Advisors LLC bought a new stake in shares of SPDR Gold Shares in the 3rd quarter worth approximately $27,000. USA Financial Formulas bought a new stake in shares of SPDR Gold Shares in the 4th quarter worth approximately $31,000. Finally, Networth Advisors LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter worth approximately $34,000. Institutional investors own 42.19% of the company’s stock.
SPDR Gold Shares Trading Down 2.3%
NYSEARCA:GLD opened at $417.29 on Friday. The stock has a market capitalization of $151.77 billion, a PE ratio of -32.43 and a beta of 0.15. The firm’s 50 day moving average is $435.54 and its 200 day moving average is $422.92. SPDR Gold Shares has a 12 month low of $291.78 and a 12 month high of $509.70.
Trending Headlines about SPDR Gold Shares
- Negative Sentiment: Gold fell further late Friday as the dollar and Treasury yields strengthened, with traders focused on whether the metal can hold the key $4,500 support zone. Silver dives below $76, gold tests $4,500 support as Iran risk drives oil, rate fears – Kitco PM Report
- Negative Sentiment: Technical commentary pointed to a bearish breakdown in gold, raising the risk of a deeper pullback toward major support levels. Gold (XAU/USD) Price Forecast: Bearish Breakdown Targets Major Support
- Negative Sentiment: Market reports said gold broke below $4,600 as rising yields and dollar strength outweighed traditional safe-haven demand. Gold breaks below $4,600 as dollar, yields overpower haven demand – Kitco AM Report
- Negative Sentiment: Additional commentary highlighted that hotter inflation data and a rally in the dollar have weakened bullish momentum in gold. Update: Gold Falls as the USD and Treasury Yields Surge on Inflation Worries
- Neutral Sentiment: Some analysts still noted strong long-term demand from central banks and continued interest in gold ETFs, which could help limit downside over time. Central Banks Are Snapping Up Gold, ETF Investors Are Just Waking Up: The Best Gold ETFs to Own Before It Hits $5,000
SPDR Gold Shares Profile
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). The Trust issues Shares in Baskets to certain authorized participants (Authorized Participants) on an ongoing basis. The creation and redemption of Baskets is only made in exchange for the delivery to the Trust or the distribution by the Trust of the amount of gold and any cash represented by the Baskets being created or redeemed, the amount of which will be based on the combined net asset value of various Shares included in the Baskets being created or redeemed determined on the day the order to create or redeem Baskets is properly received.
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