GPS Wealth Strategies Group LLC reduced its stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 43.0% during the 4th quarter, Holdings Channel reports. The institutional investor owned 2,450 shares of the exchange traded fund’s stock after selling 1,845 shares during the period. GPS Wealth Strategies Group LLC’s holdings in SPDR Gold Shares were worth $971,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. First Eagle Investment Management LLC raised its holdings in SPDR Gold Shares by 2.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,531,196 shares of the exchange traded fund’s stock valued at $899,764,000 after buying an additional 66,416 shares during the period. Bank of Montreal Can purchased a new stake in SPDR Gold Shares during the third quarter worth about $556,282,000. Ameriprise Financial Inc. increased its stake in SPDR Gold Shares by 3.4% during the third quarter. Ameriprise Financial Inc. now owns 1,555,831 shares of the exchange traded fund’s stock worth $554,139,000 after purchasing an additional 50,756 shares during the period. Envestnet Asset Management Inc. increased its stake in SPDR Gold Shares by 3.0% during the third quarter. Envestnet Asset Management Inc. now owns 1,222,891 shares of the exchange traded fund’s stock worth $434,701,000 after purchasing an additional 35,619 shares during the period. Finally, Barclays PLC increased its stake in SPDR Gold Shares by 1.4% during the third quarter. Barclays PLC now owns 1,125,376 shares of the exchange traded fund’s stock worth $400,037,000 after purchasing an additional 15,932 shares during the period. 42.19% of the stock is currently owned by hedge funds and other institutional investors.
SPDR Gold Shares Price Performance
Shares of NYSEARCA:GLD opened at $413.82 on Friday. The firm has a market capitalization of $150.51 billion, a PE ratio of -32.43 and a beta of 0.15. The firm’s 50-day moving average is $429.77 and its two-hundred day moving average is $424.64. SPDR Gold Shares has a 1 year low of $299.89 and a 1 year high of $509.70.
SPDR Gold Shares News Roundup
- 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…
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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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).
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