Strategic Financial Concepts LLC raised its stake in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 124.7% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 7,140 shares of the exchange traded fund’s stock after purchasing an additional 3,962 shares during the period. SPDR Gold Shares accounts for 2.6% of Strategic Financial Concepts LLC’s portfolio, making the stock its 10th largest holding. Strategic Financial Concepts LLC’s holdings in SPDR Gold Shares were worth $2,830,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in SPDR Gold Shares during the fourth quarter valued at approximately $25,000. Hopwood Financial Services Inc. acquired a new position in SPDR Gold Shares during the third quarter valued at approximately $27,000. Vestwell Advisors LLC acquired a new position in SPDR Gold Shares during the third quarter valued at approximately $27,000. USA Financial Formulas acquired a new position in SPDR Gold Shares during the fourth quarter valued at approximately $31,000. Finally, Chapman Financial Group LLC acquired a new position in SPDR Gold Shares during the second quarter valued at approximately $26,000. Institutional investors and hedge funds own 42.19% of the company’s stock.
More SPDR Gold Shares News
Here are the key news stories impacting SPDR Gold Shares this week:
- Negative Sentiment: Gold prices weakened as a stronger dollar and higher Treasury yields reduced demand for the non-yielding metal. Gold weakens as U.S.-Iran talks keep oil, rates in focus – Kitco PM Report
- Negative Sentiment: Several reports said traders are worried the Fed could stay hawkish or even raise rates further, which has kept precious metals under pressure. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back As Traders Worry About Hawkish Fed
- Neutral Sentiment: Gold remains in a tight trading range, with volatility compressing and the market looking for a breakout catalyst. Gold (XAU/USD) Price Forecast: Compression Signals Major Breakout Potential
- Neutral Sentiment: Weak U.S. consumer sentiment and rising inflation expectations could support gold over time, but that effect was offset by stronger dollar and rate pressures today. Spot gold hits session low near $4,500/oz after final Consumer Sentiment drops to 44.8…
SPDR Gold Shares Stock Down 0.8%
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). 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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