SPDR Gold Shares $GLD Stock: Atticus Wealth Management LLC Cuts Position

Atticus Wealth Management LLC decreased its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 90.5% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,255 shares of the exchange traded fund’s stock after selling 11,961 shares during the period. Atticus Wealth Management LLC’s holdings in SPDR Gold Shares were worth $478,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Private Wealth Management Group LLC acquired a new position in SPDR Gold Shares in the 1st quarter valued at about $30,000. Parvin Asset Management LLC purchased a new stake in SPDR Gold Shares during the first quarter worth about $31,000. Longview Financial Advisors Inc. acquired a new stake in shares of SPDR Gold Shares during the first quarter worth about $35,000. NBH Bank acquired a new stake in shares of SPDR Gold Shares during the second quarter worth about $41,000. Finally, Trust Co. of Vermont purchased a new position in shares of SPDR Gold Shares in the second quarter valued at approximately $43,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

NYSEARCA GLD opened at $377.65 on Wednesday. The firm has a 50 day simple moving average of $396.43 and a 200-day simple moving average of $399.84. SPDR Gold Shares has a one year low of $360.12 and a one year high of $509.70. The firm has a market cap of $139.58 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18.

More SPDR Gold Shares News

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

• Positive Sentiment: Institutional buying: Briaud Financial Planning increased its GLD position by 2.9%, purchasing 5,738 additional shares and bringing its holdings to 205,648 shares. The transaction provides a modest positive signal for investor demand. Briaud Financial Planning Buys 5,738 Shares of SPDR Gold Shares
• Positive Sentiment: Long-term demand catalysts: The World Gold Council said tokenized gold could eventually unlock as much as $700 billion in new investment demand, while record ETF holdings indicate continued strategic interest in the metal. Tokenized Gold Could Unlock $700 Billion New Demand
• Neutral Sentiment: Mixed technical and longer-term outlook: Analysts are watching support near $4,000-$4,100 and resistance around $4,217-$4,260. CIBC reduced its near-term gold forecasts but still expects central-bank demand to support a recovery over the longer term. CIBC Slashes Gold Price Forecasts
• Negative Sentiment: Higher yields and Fed expectations: Rising Treasury yields, a firmer dollar and approximately 94% market odds of a December rate hike are discouraging buyers of gold and weighing on GLD. Gold and Silver Price Forecast
• Negative Sentiment: Oil-driven inflation concerns: Rebounding crude prices are increasing inflation worries and keeping additional Fed tightening in focus, contributing to recent declines in gold. Gold Falls Amid Pressure From Rising Crude Prices
• Negative Sentiment: Competitive ETF pressure: Investors reportedly directed roughly $500 million toward a cheaper SPDR gold fund rather than GLD, raising concerns about fee-sensitive flows and potential competition for new assets. Investors Sent $500 Million to the Cheaper SPDR Gold Fund

SPDR Gold Shares 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.