StoneX Group Inc. lifted its stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 42.1% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 17,601 shares of the exchange traded fund’s stock after buying an additional 5,219 shares during the quarter. StoneX Group Inc.’s holdings in SPDR Gold Shares were worth $6,754,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of GLD. Allen Investment Management LLC raised its position in SPDR Gold Shares by 9.3% during the third quarter. Allen Investment Management LLC now owns 580,922 shares of the exchange traded fund’s stock valued at $221,238,000 after acquiring an additional 49,568 shares in the last quarter. Verus Capital Partners LLC boosted its position in SPDR Gold Shares by 7.2% in the 3rd quarter. Verus Capital Partners LLC now owns 9,787 shares of the exchange traded fund’s stock worth $3,727,000 after purchasing an additional 657 shares in the last quarter. Flagship Wealth Advisors LLC boosted its position in SPDR Gold Shares by 0.7% in the 3rd quarter. Flagship Wealth Advisors LLC now owns 14,830 shares of the exchange traded fund’s stock worth $5,648,000 after purchasing an additional 100 shares in the last quarter. Merkkuri Wealth Advisors LLC boosted its position in SPDR Gold Shares by 8.0% in the 3rd quarter. Merkkuri Wealth Advisors LLC now owns 851 shares of the exchange traded fund’s stock worth $324,000 after purchasing an additional 63 shares in the last quarter. Finally, Your Advocates Ltd. LLP grew its stake in shares of SPDR Gold Shares by 3.9% during the 3rd quarter. Your Advocates Ltd. LLP now owns 45,844 shares of the exchange traded fund’s stock worth $17,459,000 after purchasing an additional 1,723 shares during the period. 42.19% of the stock is owned by institutional investors and hedge funds.
Key Headlines Impacting SPDR Gold Shares
Here are the key news stories impacting SPDR Gold Shares this week:
- Positive Sentiment: One analyst says proposed Democratic spending could weaken the U.S. dollar and provide a longer-term floor for gold. Midterm-related buying had also helped gold return above $4,000 an ounce. Article: Dems’ spending plans could weaken the dollar and support gold
- Neutral Sentiment: Election results may have reduced some uncertainty, but traders still see the Federal Reserve and the President as key influences on the dollar and gold. Markets are awaiting the Fed’s December decision. Article: Gold and the dollar remain dependent on Trump and the Fed
- Negative Sentiment: October payrolls rose by 165,000, stronger than expected, lifting the dollar and real yields and increasing expectations of a possible December Fed rate hike. That pressured gold and threatens its $4,000-an-ounce support; a sustained break could deepen bullion’s pullback, weighing on GLD. Article: Gold faces risk to $4,000 support after strong payrolls
SPDR Gold Shares Price Performance
Shares of NYSEARCA GLD opened at $372.52 on Friday. The stock has a market capitalization of $135.93 billion, a price-to-earnings ratio of -32.43 and a beta of 0.20. The firm’s 50 day simple moving average is $384.96 and its 200-day simple moving average is $411.53. SPDR Gold Shares has a 12 month low of $354.67 and a 12 month high of $509.70.
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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