RPg Family Wealth Advisory LLC bought a new position in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) in the 2nd quarter, Holdings Channel.com reports. The institutional investor bought 27,915 shares of the exchange traded fund’s stock, valued at approximately $10,283,000. SPDR Gold Shares accounts for about 1.2% of RPg Family Wealth Advisory LLC’s portfolio, making the stock its 22nd largest holding.
Several other large investors have also recently bought and sold shares of GLD. WPG Advisers LLC bought a new position in shares of SPDR Gold Shares in the fourth quarter valued at $25,000. Timmons Wealth Management LLC bought a new position in shares of SPDR Gold Shares in the 4th quarter valued at about $26,000. Chapman Financial Group LLC acquired a new position in shares of SPDR Gold Shares during the 2nd quarter worth about $26,000. Eukles Asset Management acquired a new position in shares of SPDR Gold Shares during the 4th quarter worth about $27,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of SPDR Gold Shares in the 1st quarter valued at about $30,000. 42.19% of the stock is owned by institutional investors and hedge funds.
SPDR Gold Shares Stock Performance
Shares of GLD stock opened at $423.36 on Friday. SPDR Gold Shares has a 52-week low of $306.43 and a 52-week high of $509.70. The stock has a market cap of $149.49 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. The firm’s 50-day moving average is $382.88 and its 200-day moving average is $417.49.
SPDR Gold Shares News Summary
- Positive Sentiment: Gold climbed back above $4,600 per ounce after the Treasury expanded long-duration bond buybacks. Investors interpreted the move as an effort to contain borrowing costs, pressuring the dollar and supporting non-yielding assets such as gold. Gold Above $4,600 on Weaker Dollar, Debt Fears
- Positive Sentiment: Gold is heading toward a weekly gain of roughly 5%, aided by bond-market jitters, fiscal concerns and dollar weakness. Technical momentum also improved as bullion moved above its 200-day moving average and key resistance levels. Gold rebounds as bond jitters, debt fears and weaker dollar revive bullion demand
- Positive Sentiment: Ray Dalio recommended reducing bond exposure and increasing allocations to gold and Bitcoin, arguing that recent Treasury actions indicate a debt crisis may be approaching. The comments reinforce the safe-haven investment case for GLD. Ray Dalio recommends gold and bitcoin
- Positive Sentiment: Unusually heavy bullish options activity signals increased speculative interest in GLD, with call-option volume about 76% above its average. Traders purchase GLD call options
- Neutral Sentiment: Next week’s July PCE inflation report and Federal Reserve Chair Kevin Warsh’s Jackson Hole speech could drive volatility by changing expectations for interest rates and the dollar. Gold looks to PCE inflation and Jackson Hole
- Negative Sentiment: Stronger-than-expected U.S. economic data, including an August composite PMI of 56.0, could support the dollar and reduce expectations for Federal Reserve easing, creating a potential short-term headwind for gold and GLD. Spot gold holds above $4,585
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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