Keel Point LLC Purchases 2,243 Shares of SPDR Gold Shares $GLD

Keel Point LLC raised its position in SPDR Gold Shares (NYSEARCA:GLD) by 2.5% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 92,925 shares of the exchange traded fund’s stock after purchasing an additional 2,243 shares during the period. SPDR Gold Shares comprises approximately 2.2% of Keel Point LLC’s portfolio, making the stock its 9th biggest holding. Keel Point LLC’s holdings in SPDR Gold Shares were worth $36,827,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. TCTC Holdings LLC boosted its stake in shares of SPDR Gold Shares by 1.6% during the fourth quarter. TCTC Holdings LLC now owns 22,247 shares of the exchange traded fund’s stock valued at $8,817,000 after acquiring an additional 340 shares during the last quarter. Premier Private Wealth Management LLC acquired a new stake in shares of SPDR Gold Shares during the fourth quarter valued at $240,000. Stirlingshire Investments Inc. acquired a new stake in shares of SPDR Gold Shares during the fourth quarter valued at $1,040,000. Cornerstone Advisors Asset Management LLC boosted its stake in shares of SPDR Gold Shares by 55.2% during the fourth quarter. Cornerstone Advisors Asset Management LLC now owns 2,157 shares of the exchange traded fund’s stock valued at $855,000 after acquiring an additional 767 shares during the last quarter. Finally, Legacy Capital Wealth Management LLC purchased a new position in SPDR Gold Shares during the fourth quarter worth about $395,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

Key Stories Impacting SPDR Gold Shares

Here are the key news stories impacting SPDR Gold Shares this week:

• Positive Sentiment: Gold found buyers after testing major support, with some analysts saying the market may be forming a bottom near the $4,000 area. Gold (XAU/USD) Price Forecast: Undercut Setup Signals Potential Bottom
• Positive Sentiment: Some strategists argued the longer-term gold bull market is still intact despite the recent drop below key price levels, which could encourage dip buying in GLD. Don’t fear a drop below $4,000, gold’s bull market isnt broken – Thorsten Polleit
• Neutral Sentiment: Gold and GLD remain under pressure from higher-for-longer interest rate expectations, a stronger dollar, and elevated bond yields, which have driven the metal to recent six- and seven-month lows. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor
• Neutral Sentiment: Mixed macro signals are keeping the ETF volatile: hotter-than-expected PPI and CPI readings are bearish for gold, while safe-haven demand from geopolitical tensions and talk of a potential bottom are offering some support. Update: Gold Rises on a Restart of Iranian Talks; U.S. Wholesale Inflation Rose More Than Expected in May
• Negative Sentiment: Several market reports warned that the recent decline may not be over, with GLD breaking key technical support and some traders betting the pain could last longer if rates stay elevated. As gold’s tumble continues, traders bet the pain may last for two more years

SPDR Gold Shares Trading Up 3.1%

NYSEARCA GLD opened at $386.32 on Friday. The business’s 50-day moving average price is $422.52 and its 200 day moving average price is $427.97. SPDR Gold Shares has a twelve month low of $299.89 and a twelve month high of $509.70. The company has a market capitalization of $140.50 billion, a PE ratio of -32.43 and a beta of 0.14.

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.