Mesirow Financial Investment Management Inc. raised its holdings in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 1.5% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 198,727 shares of the exchange traded fund’s stock after acquiring an additional 2,843 shares during the period. SPDR Gold Shares makes up approximately 1.2% of Mesirow Financial Investment Management Inc.’s portfolio, making the stock its 20th biggest position. Mesirow Financial Investment Management Inc.’s holdings in SPDR Gold Shares were worth $75,682,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. 626 Financial LLC increased its stake in shares of SPDR Gold Shares by 0.9% during the 3rd quarter. 626 Financial LLC now owns 3,476 shares of the exchange traded fund’s stock valued at $1,324,000 after acquiring an additional 31 shares during the last quarter. Searle & CO. boosted its position in shares of SPDR Gold Shares by 9.3% in the third quarter. Searle & CO. now owns 2,350 shares of the exchange traded fund’s stock worth $895,000 after acquiring an additional 200 shares during the last quarter. Csenge Advisory Group grew its holdings in SPDR Gold Shares by 8.3% in the third quarter. Csenge Advisory Group now owns 63,833 shares of the exchange traded fund’s stock valued at $24,310,000 after purchasing an additional 4,886 shares during the period. D.B. Root & Company LLC grew its holdings in SPDR Gold Shares by 10.9% in the third quarter. D.B. Root & Company LLC now owns 14,331 shares of the exchange traded fund’s stock valued at $5,458,000 after purchasing an additional 1,412 shares during the period. Finally, Cassia Capital Partners LLC increased its position in SPDR Gold Shares by 3.9% during the third quarter. Cassia Capital Partners LLC now owns 47,542 shares of the exchange traded fund’s stock worth $18,106,000 after purchasing an additional 1,789 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.
More SPDR Gold Shares News
Here are the key news stories impacting SPDR Gold Shares this week:
- Positive Sentiment: China continued adding to its gold reserves, extending its buying streak to a second year. Ongoing central-bank purchases may help support gold demand and GLD over the longer term. China buys gold for two straight years as central bank demand remains a key pillar of support
- Positive Sentiment: Gold edged higher in early Asian trading after a sharp overnight drop, which one report described as a likely technical rebound. This could provide short-term support, though it does not reverse the pressure from inflation and rate expectations. Gold Edges Higher in Likely Technical Rebound
- Neutral Sentiment: A Fed economist said recent central-bank gold repatriations have had little effect on those countries’ U.S. dollar reserve allocations. The report offers context on gold demand but does not point to a clear near-term change in GLD’s outlook. Gold reserve repatriations don’t mean central banks are de-dollarizing – Fed’s Weiss
- Negative Sentiment: Hotter U.S. CPI drove gold sharply lower and increased expectations for a December Fed rate hike, with the possibility of a larger adjustment also raised. Higher yields and a stronger dollar are headwinds for bullion and GLD. Gold, silver plunge as hotter U.S. inflation raises prospect of larger Fed rate hike
- Negative Sentiment: SPDR Gold Shares reportedly saw about $1.8 billion in outflows in October. Continued withdrawals could weigh on demand for the fund, even as gold-mining stocks attract investor interest. Forget the ETF Outflows: Gold Miners Offer 3X Leverage As Cash Flow Surges
SPDR Gold Shares Stock Performance
Shares of GLD stock opened at $369.36 on Wednesday. The firm has a market capitalization of $134.78 billion, a price-to-earnings ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a one year low of $354.67 and a one year high of $509.70. The company has a 50 day moving average price of $383.59 and a 200 day moving average price of $410.80.
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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