ACT Wealth Management LLC lifted its position in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 21.8% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 47,383 shares of the exchange traded fund’s stock after acquiring an additional 8,495 shares during the quarter. SPDR Gold Shares makes up about 5.4% of ACT Wealth Management LLC’s investment portfolio, making the stock its 8th largest position. ACT Wealth Management LLC’s holdings in SPDR Gold Shares were worth $18,045,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in the company. Acropolis Investment Management LLC lifted its holdings in SPDR Gold Shares by 9.5% in the third quarter. Acropolis Investment Management LLC now owns 450 shares of the exchange traded fund’s stock valued at $171,000 after buying an additional 39 shares during the period. GAMMA Investing LLC raised its position in shares of SPDR Gold Shares by 13.8% during the 3rd quarter. GAMMA Investing LLC now owns 768 shares of the exchange traded fund’s stock valued at $292,000 after acquiring an additional 93 shares during the last quarter. Galvin Gaustad & Stein LLC raised its position in shares of SPDR Gold Shares by 8.1% during the 3rd quarter. Galvin Gaustad & Stein LLC now owns 2,788 shares of the exchange traded fund’s stock valued at $1,062,000 after acquiring an additional 208 shares during the last quarter. Grove Bank & Trust lifted its stake in shares of SPDR Gold Shares by 15.7% in the 3rd quarter. Grove Bank & Trust now owns 30,267 shares of the exchange traded fund’s stock valued at $11,527,000 after purchasing an additional 4,096 shares during the period. Finally, Independence Financial Advisors LLC lifted its stake in shares of SPDR Gold Shares by 4.5% in the 3rd quarter. Independence Financial Advisors LLC now owns 36,897 shares of the exchange traded fund’s stock valued at $14,052,000 after purchasing an additional 1,585 shares during the period. Institutional investors and hedge funds own 42.19% of the company’s stock.
SPDR Gold Shares Stock Up 0.7%
NYSEARCA:GLD opened at $378.62 on Friday. SPDR Gold Shares has a 12-month low of $360.12 and a 12-month high of $509.70. The firm has a market capitalization of $140.24 billion, a P/E ratio of -32.43 and a beta of 0.18. The stock’s fifty day simple moving average is $397.47 and its 200-day simple moving average is $401.79.
Key Headlines Impacting SPDR Gold Shares
- Positive Sentiment: Gold is receiving support from a weaker dollar and a pullback in Treasury yields, improving the appeal of non-yielding bullion and potentially benefiting GLD. Gold, Silver, Platinum Forecasts – Gold Attempts to Rebound as Treasury Yields Pull Back
- Positive Sentiment: Analysts at Sprott say gold’s resilience despite elevated bond yields, renewed ETF inflows and central banks’ continued retreat from dollar assets support a longer-term bullish outlook. Gold Gains Ground as Central Banks Retreat from Dollar Assets and Inflation Undermines Bonds
- Positive Sentiment: China’s central bank added 21 tonnes of gold in September, extending its buying streak to 23 consecutive months and providing an important source of underlying demand. China’s Central Bank Buys 21 Tonnes of Gold in September
- Positive Sentiment: Longer-term bullish arguments remain intact, including central-bank diversification, inflation concerns and portfolio demand, making the recent decline a potential accumulation opportunity for some investors. Gold ETF Down 13% in Six Months: Four Bullish Reasons for the Long Term
- Neutral Sentiment: Gold is testing major Fibonacci and trendline support around $4,100-$4,103. Holding that zone could produce a double bottom or bullish wedge breakout, while a decisive break lower would signal additional downside for GLD. Gold Price Forecast: $4,103 Support Holds Key to Next Move
- Negative Sentiment: Federal Reserve communications and meeting minutes kept the possibility of another rate hike alive. Stronger-than-expected jobless-claims data also reduced expectations for rapid policy easing, pressuring gold through higher-rate concerns. Fed Minutes Weigh on Gold as It Tests $4,100
- Negative Sentiment: Recent gains in Treasury yields and the dollar have reduced demand for gold, leaving the metal vulnerable to further losses if rates remain elevated. Gold Falls as Higher Yields and Stronger Dollar Weigh
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.
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