SPDR Gold Shares $GLD Stock: PPSC Investment Service Corp Boosts Stake

PPSC Investment Service Corp boosted its stake in SPDR Gold Shares (NYSEARCA:GLD) by 2.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 789,050 shares of the exchange traded fund’s stock after buying an additional 16,678 shares during the quarter. SPDR Gold Shares makes up about 17.9% of PPSC Investment Service Corp’s investment portfolio, making the stock its 2nd largest position. PPSC Investment Service Corp owned 0.21% of SPDR Gold Shares worth $300,502,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also recently bought and sold shares of GLD. First Eagle Investment Management LLC raised its stake in SPDR Gold Shares by 1.5% during the second quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock worth $917,864,000 after acquiring an additional 35,882 shares in the last quarter. Envestnet Asset Management Inc. lifted its holdings 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 valued at $430,888,000 after acquiring an additional 5,793 shares during the period. PNC Financial Services Group Inc. boosted its stake in shares of SPDR Gold Shares by 1.8% in the 1st quarter. PNC Financial Services Group Inc. now owns 707,998 shares of the exchange traded fund’s stock valued at $304,644,000 after purchasing an additional 12,415 shares in the last quarter. Bank of Korea acquired a new stake in shares of SPDR Gold Shares in the 2nd quarter valued at $250,411,831. Finally, Banco Santander S.A. boosted its stake in shares of SPDR Gold Shares by 16.9% in the 2nd quarter. Banco Santander S.A. now owns 595,810 shares of the exchange traded fund’s stock valued at $219,484,000 after purchasing an additional 86,294 shares in the last quarter. 42.19% of the stock is currently owned by institutional investors.

Key Headlines Impacting SPDR Gold Shares

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 Stock Performance

GLD opened at $372.28 on Wednesday. The firm’s 50-day simple moving average is $393.17 and its 200-day simple moving average is $413.72. SPDR Gold Shares has a twelve month low of $360.12 and a twelve month high of $509.70. The firm has a market cap of $138.08 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18.

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.