SPDR Gold Shares $GLD Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. trimmed its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 0.8% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 484,273 shares of the exchange traded fund’s stock after selling 3,896 shares during the period. Northwestern Mutual Wealth Management Co. owned approximately 0.14% of SPDR Gold Shares worth $178,397,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Timmons Wealth Management LLC acquired a new stake in shares of SPDR Gold Shares during the 4th quarter worth about $26,000. Eukles Asset Management purchased a new position in SPDR Gold Shares during the fourth quarter worth about $27,000. Private Wealth Management Group LLC purchased a new position in SPDR Gold Shares during the first quarter worth about $30,000. Parvin Asset Management LLC acquired a new stake in shares of SPDR Gold Shares during the first quarter valued at about $31,000. Finally, Longview Financial Advisors Inc. purchased a new stake in shares of SPDR Gold Shares in the 1st quarter valued at approximately $35,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

Key SPDR Gold Shares News

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

• Positive Sentiment: Renewed U.S.-Iran tensions and risks surrounding the Strait of Hormuz are supporting safe-haven demand for gold, while higher oil prices could increase inflation concerns and strengthen the longer-term appeal of bullion. U.S. Strikes Raise Hormuz Risks: ETF Areas to Win/Lose
• Positive Sentiment: Julius Baer said the Treasury’s larger bond-buyback program is renewing concerns about U.S. fiscal sustainability and potential dollar debasement, factors that could encourage investors to hold gold through GLD. Treasury’s ramped-up bond buybacks soften the U.S. dollar and boost the gold price
• Neutral Sentiment: Analysts continue to describe gold’s broader trend as structurally bullish because of rising global money supply and government debt, although forecasts for substantially higher prices are longer-term and do not offset immediate volatility. Gold price is going to $20,000
• Negative Sentiment: Fed Chair Kevin Warsh’s hawkish message increased expectations for a rate hike and pushed yields higher. Because GLD holds non-yielding gold, elevated interest rates raise its opportunity cost and are pressuring the fund. Fed’s hawkishness will drive gold price toward $4,200
• Negative Sentiment: Gold ETF inflows have recently reversed after the selloff, suggesting some investors are taking profits. Technical analysts are watching key support levels as the metal tests whether it can stabilize after its recent rally. Gold ETF Inflows Reverse Course

SPDR Gold Shares Stock Performance

Shares of GLD stock opened at $408.42 on Tuesday. The firm’s 50 day moving average price is $386.36 and its 200-day moving average price is $415.88. SPDR Gold Shares has a one year low of $314.64 and a one year high of $509.70. The firm has a market cap of $144.21 billion, a P/E ratio of -32.43 and a beta of 0.17.

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.