N10 Wealth LLC Purchases 7,500 Shares of SPDR Gold Shares $GLD

N10 Wealth LLC purchased a new stake in SPDR Gold Shares (NYSEARCA:GLD) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,500 shares of the exchange traded fund’s stock, valued at approximately $2,856,000. SPDR Gold Shares comprises 0.8% of N10 Wealth LLC’s portfolio, making the stock its 29th largest holding.

Other hedge funds have also added to or reduced their stakes in the company. Corient Private Wealth LLC boosted its stake in shares of SPDR Gold Shares by 571.3% in the 4th quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock valued at $1,565,118,000 after purchasing an additional 3,360,966 shares during the last quarter. First Eagle Investment Management LLC grew its position in shares of SPDR Gold Shares by 1.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock worth $917,864,000 after buying an additional 35,882 shares during the period. Virtu Financial LLC bought a new stake in shares of SPDR Gold Shares during the fourth quarter worth approximately $474,952,000. Envestnet Asset Management Inc. raised its stake in shares of SPDR Gold Shares by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,169,683 shares of the exchange traded fund’s stock worth $430,888,000 after buying an additional 5,793 shares during the last quarter. Finally, Rockefeller Capital Management L.P. raised its stake in shares of SPDR Gold Shares by 13.2% during the fourth quarter. Rockefeller Capital Management L.P. now owns 938,260 shares of the exchange traded fund’s stock worth $371,842,000 after buying an additional 109,205 shares during the last quarter. Institutional investors 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: Longer term, gold remains supported by strong ETF inflows, continued central-bank purchases and a bullish outlook from UBS, factors that could help bullion recover and support GLD. Here’s Why Gold ETFs Still Make Sense for Long-Term Investors
• Positive Sentiment: UBP strategist Peter Kinsella said gold may have absorbed much of the recent yield-related selling. Easing Fed-hike expectations, improving geopolitical conditions and a potential U.S. Treasury gold revaluation could provide fresh support later this year. U.S. Treasury’s gold revaluation could restart the debasement trade
• Neutral Sentiment: Before the inflation report, gold held near key technical levels as investors assessed the likely path of interest rates. A sustained move above resistance could improve the outlook, while a break below support would signal additional downside risk. Gold and Silver Price Forecast
• Negative Sentiment: September CPI accelerated more than expected, lifting Treasury yields and reviving the possibility of an October rate increase. Gold subsequently tested the $4,000–$4,200 demand zone, while analysts warned that a break of support could extend the decline. Gold Tests $4,200-$4,000 Demand Zone as CPI Revives Inflation Concerns
• Negative Sentiment: Kazakhstan plans to sell part of its exceptionally large gold reserves because elevated Treasury yields make dollar assets more attractive. The shift by a major central-bank buyer adds a potential source of selling pressure for bullion and GLD. Kazakhstan plans gold sales as holdings reach 78% of reserves

SPDR Gold Shares Stock Down 1.8%

NYSEARCA GLD traded down $7.03 during trading hours on Wednesday, hitting $374.64. The company’s stock had a trading volume of 5,411,722 shares, compared to its average volume of 11,586,732. The stock has a fifty day moving average of $398.09 and a 200 day moving average of $401.25. SPDR Gold Shares has a twelve month low of $360.12 and a twelve month high of $509.70. The firm has a market capitalization of $138.32 billion, a P/E ratio of -32.43 and a beta of 0.18.

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.