The Manufacturers Life Insurance Company increased its position in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 45.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 49,226 shares of the exchange traded fund’s stock after purchasing an additional 15,459 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in SPDR Gold Shares were worth $18,134,000 as of its most recent SEC filing.
Other institutional investors have also added to or reduced their stakes in the company. MCF Advisors LLC grew its holdings in shares of SPDR Gold Shares by 9.5% in the second quarter. MCF Advisors LLC now owns 971 shares of the exchange traded fund’s stock valued at $358,000 after acquiring an additional 84 shares in the last quarter. Bienville Capital Management LLC increased its position in shares of SPDR Gold Shares by 70.3% during the second quarter. Bienville Capital Management LLC now owns 14,826 shares of the exchange traded fund’s stock valued at $5,462,000 after acquiring an additional 6,120 shares during the last quarter. Lotus Asset Management LLC bought a new stake in SPDR Gold Shares during the second quarter worth $638,000. Insight Wealth Partners LLC lifted its holdings in SPDR Gold Shares by 1.4% during the second quarter. Insight Wealth Partners LLC now owns 4,543 shares of the exchange traded fund’s stock worth $1,674,000 after acquiring an additional 61 shares during the period. Finally, Capital Advantage Inc. lifted its holdings in SPDR Gold Shares by 10.3% during the second quarter. Capital Advantage Inc. now owns 2,041 shares of the exchange traded fund’s stock worth $752,000 after acquiring an additional 190 shares during the period. 42.19% of the stock is owned by institutional investors.
SPDR Gold Shares News Roundup
Here are the key news stories impacting SPDR Gold Shares this week:
- Positive Sentiment: Gold held near the important $4,300 support level after rebounding from its 200-day exponential moving average. A move above roughly $4,443 could signal another bullish leg, with $4,500 identified as the next major resistance area. Gold price holds $4,300 support as CPI lifts Fed-hike odds
- Positive Sentiment: U.S. consumer sentiment fell sharply to a preliminary September reading of 47.8, while inflation expectations rose. The combination of weaker confidence and higher perceived inflation may encourage investors to seek gold as a store of value. Gold price holds near high after preliminary Consumer Sentiment falls
- Positive Sentiment: Analysts said a potential Fed rate hike may cause short-term volatility but is unlikely to derail gold’s longer-term bullish thesis, which remains supported by sovereign-debt concerns, geopolitical risks and continued investment demand. The Fed can hike, but it won’t derail gold’s long-term bull market
- Positive Sentiment: Reports indicate that central-bank gold movements reflect repatriation and concerns about sanctions or asset seizure rather than broad liquidation, reducing fears of a major official-sector supply increase. Central bank gold moves are about repatriation, not liquidation
SPDR Gold Shares Trading Up 0.6%
SPDR Gold Shares Company 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.
Read More
- Five stocks we like better than SPDR Gold Shares
- Rocket Lab Tackles a Supply Chain Bottleneck as the Stock Hunts for a Bottom. Time to Buy?
- Optical Cable Corporation Is Starting to Get the Market’s Attention
- Oil Above $100 Is Creating a New Opportunity Beyond the Major Producers
- Is Nike’s Index Demotion a Warning or a Buying Opportunity?
Want to see what other hedge funds are holding GLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR Gold Shares (NYSEARCA:GLD – Free Report).
Receive News & Ratings for SPDR Gold Shares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPDR Gold Shares and related companies with MarketBeat.com's FREE daily email newsletter.
