Your Advocates Ltd. LLP boosted its position in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 3.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 45,844 shares of the exchange traded fund’s stock after acquiring an additional 1,723 shares during the period. SPDR Gold Shares accounts for 5.0% of Your Advocates Ltd. LLP’s investment portfolio, making the stock its 9th biggest holding. Your Advocates Ltd. LLP’s holdings in SPDR Gold Shares were worth $17,459,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of GLD. City Holding Co. lifted its position in SPDR Gold Shares by 41.6% in the second quarter. City Holding Co. now owns 22,914 shares of the exchange traded fund’s stock worth $8,441,000 after purchasing an additional 6,733 shares during the period. DDFG Inc increased its holdings in SPDR Gold Shares by 57.5% in the 2nd quarter. DDFG Inc now owns 48,753 shares of the exchange traded fund’s stock valued at $17,959,000 after buying an additional 17,793 shares during the period. Arcus Capital Partners LLC increased its holdings in SPDR Gold Shares by 90.3% in the 1st quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock valued at $3,633,000 after buying an additional 4,005 shares during the period. Wellington Management Group LLP raised its stake in shares of SPDR Gold Shares by 20.8% in the 2nd quarter. Wellington Management Group LLP now owns 80,567 shares of the exchange traded fund’s stock valued at $29,679,000 after buying an additional 13,877 shares in the last quarter. Finally, First Eagle Investment Management LLC raised its stake in shares of SPDR Gold Shares by 1.5% in the 2nd quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock valued at $917,864,000 after buying an additional 35,882 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.
Key Stories Impacting SPDR Gold Shares
Here are the key news stories impacting SPDR Gold Shares this week:
- Positive Sentiment: One analyst says proposed Democratic spending could weaken the U.S. dollar and provide a longer-term floor for gold. Midterm-related buying had also helped gold return above $4,000 an ounce. Article: Dems’ spending plans could weaken the dollar and support gold
- Neutral Sentiment: Election results may have reduced some uncertainty, but traders still see the Federal Reserve and the President as key influences on the dollar and gold. Markets are awaiting the Fed’s December decision. Article: Gold and the dollar remain dependent on Trump and the Fed
- Negative Sentiment: October payrolls rose by 165,000, stronger than expected, lifting the dollar and real yields and increasing expectations of a possible December Fed rate hike. That pressured gold and threatens its $4,000-an-ounce support; a sustained break could deepen bullion’s pullback, weighing on GLD. Article: Gold faces risk to $4,000 support after strong payrolls
SPDR Gold Shares Price Performance
Shares of SPDR Gold Shares stock traded down $2.97 during trading on Friday, hitting $372.52. 7,393,978 shares of the company’s stock traded hands, compared to its average volume of 11,419,466. SPDR Gold Shares has a twelve month low of $354.67 and a twelve month high of $509.70. The company has a market cap of $135.93 billion, a PE ratio of -32.43 and a beta of 0.20. The firm’s fifty day moving average price is $384.96 and its 200 day moving average price is $411.53.
About SPDR Gold Shares
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.
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