Clifford Swan Investment Counsel LLC Sells 5,716 Shares of SPDR Gold Shares $GLD

Clifford Swan Investment Counsel LLC reduced its position in SPDR Gold Shares (NYSEARCA:GLD) by 7.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,511 shares of the exchange traded fund’s stock after selling 5,716 shares during the quarter. SPDR Gold Shares makes up 1.0% of Clifford Swan Investment Counsel LLC’s portfolio, making the stock its 28th largest holding. Clifford Swan Investment Counsel LLC’s holdings in SPDR Gold Shares were worth $29,480,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. WPG Advisers LLC bought a new stake in SPDR Gold Shares in the fourth quarter valued at $25,000. Timmons Wealth Management LLC acquired a new position in shares of SPDR Gold Shares in the 4th quarter worth approximately $26,000. Eukles Asset Management bought a new stake in SPDR Gold Shares during the 4th quarter worth approximately $27,000. Private Wealth Management Group LLC bought a new stake in SPDR Gold Shares during the 1st quarter worth approximately $30,000. Finally, USA Financial Formulas acquired a new stake in SPDR Gold Shares during the 4th quarter valued at $31,000. Institutional investors own 42.19% of the company’s stock.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold briefly rebounded near $4,000/oz after softer U.S. inflation expectations and stronger consumer sentiment, which can support demand for safe-haven assets. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Positive Sentiment: Some analysts say the broader gold bull market is not over and that central-bank buying remains a structural support for prices over the long term. Gold Rises; Central Bank Buying Likely to Remain Structural Driver
• Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and product choice in the gold ETF space. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold has slipped to an eight-month low and is struggling to hold support, with traders focused on bearish technical levels near $3,942 and below. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Stronger U.S. economic data, rising Treasury yields, and a firmer dollar have reduced demand for gold as a defensive asset. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report
• Negative Sentiment: SPDR Gold Shares has seen heavy investor outflows since March, signaling fading appetite for GLD amid gold’s pullback. Largest U.S. gold ETF sees 14 billion in outflows since March, amid gold’s year-to-date pullback

SPDR Gold Shares Stock Performance

Shares of GLD opened at $368.41 on Friday. The stock has a fifty day moving average price of $393.74 and a two-hundred day moving average price of $424.69. SPDR Gold Shares has a 52-week low of $300.95 and a 52-week high of $509.70. The company has a market cap of $129.31 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

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.