Independence Bank of Kentucky Acquires 1,993 Shares of SPDR Gold Shares $GLD

Independence Bank of Kentucky lifted its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 26.4% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,533 shares of the exchange traded fund’s stock after purchasing an additional 1,993 shares during the period. Independence Bank of Kentucky’s holdings in SPDR Gold Shares were worth $3,631,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the business. Private Wealth Management Group LLC acquired a new position in SPDR Gold Shares in the first quarter valued at approximately $30,000. Parvin Asset Management LLC bought a new position in shares of SPDR Gold Shares during the 1st quarter worth approximately $31,000. NBH Bank bought a new position in shares of SPDR Gold Shares during the 2nd quarter worth approximately $41,000. Trust Co. of Vermont acquired a new stake in shares of SPDR Gold Shares during the 2nd quarter worth approximately $43,000. Finally, RHL Group LLC grew its position in shares of SPDR Gold Shares by 48.9% during the 2nd quarter. RHL Group LLC now owns 131 shares of the exchange traded fund’s stock worth $48,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 1.2%

NYSEARCA:GLD opened at $372.28 on Wednesday. The company has a fifty day moving average of $393.17 and a 200-day moving average of $413.72. The firm has a market capitalization of $138.08 billion, a P/E ratio of -32.43 and a beta of 0.18. SPDR Gold Shares has a twelve month low of $360.12 and a twelve month high of $509.70.

Key SPDR Gold Shares News

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

• Positive Sentiment: Gold rebounded as declining oil prices reduced inflation fears and encouraged renewed buying in precious metals ahead of the Fed meeting. A dovish Fed signal could provide additional support for GLD. Gold climbs above $4,050 as Wall Street rallies ahead of Fed decision
• Positive Sentiment: Weak U.S. new-home sales are reinforcing safe-haven demand and raising concerns about economic growth, which may benefit gold and GLD. Gold prices holding above $4,000 as U.S. new home sales fall
• Positive Sentiment: State Street said gold could recover substantially, potentially reaching $5,500 by early next year, while recent declines have pushed the market toward oversold conditions. Downside risks are building in gold, but prices still have a path to $5,000
• Neutral Sentiment: Gold briefly benefited from stronger consumer confidence, which lifted prices toward the session high, but the data could also support higher interest rates and limit future gains. Gold price shoots to session high after Consumer Confidence rises
• Negative Sentiment: Analysts warn that gold must establish a floor near $4,000 or risk a deeper correction after its two-month decline. Persistent inflation and expectations for another Fed rate increase are weighing on the metal. Gold price needs to build a floor here or face a deeper correction
• Negative Sentiment: Short interest in GLD rose 71.8% during October to 15.4 million shares, signaling increased bearish positioning, although the 2.1-day days-to-cover ratio leaves some potential for short-covering if gold continues higher.

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.