CoreCap Advisors LLC Sells 2,059 Shares of SPDR Gold Shares $GLD

CoreCap Advisors LLC lowered its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 3.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 58,183 shares of the exchange traded fund’s stock after selling 2,059 shares during the period. SPDR Gold Shares comprises 0.6% of CoreCap Advisors LLC’s portfolio, making the stock its 23rd largest position. CoreCap Advisors LLC’s holdings in SPDR Gold Shares were worth $22,158,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of GLD. Atwood & Palmer Inc. boosted its stake in shares of SPDR Gold Shares by 54.5% during the 3rd quarter. Atwood & Palmer Inc. now owns 357 shares of the exchange traded fund’s stock valued at $136,000 after buying an additional 126 shares during the last quarter. Titleist Asset Management LLC increased its stake in shares of SPDR Gold Shares by 11.1% in the third quarter. Titleist Asset Management LLC now owns 8,766 shares of the exchange traded fund’s stock worth $3,338,000 after buying an additional 877 shares during the last quarter. Apella Capital LLC increased its stake in shares of SPDR Gold Shares by 2.9% in the third quarter. Apella Capital LLC now owns 20,134 shares of the exchange traded fund’s stock worth $7,568,000 after buying an additional 561 shares during the last quarter. Everhart Financial Group Inc. bought a new stake in shares of SPDR Gold Shares in the third quarter worth $203,000. Finally, Ebert Capital Management Inc. raised its holdings in SPDR Gold Shares by 73.5% in the third quarter. Ebert Capital Management Inc. now owns 2,285 shares of the exchange traded fund’s stock valued at $870,000 after acquiring an additional 968 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 0.7%

NYSEARCA GLD traded up $2.74 during trading hours on Thursday, reaching $378.62. 9,575,749 shares of the company traded hands, compared to its average volume of 11,705,287. SPDR Gold Shares has a 12 month low of $360.12 and a 12 month high of $509.70. The stock has a market capitalization of $140.24 billion, a PE ratio of -32.43 and a beta of 0.18. The company has a 50 day moving average of $397.44 and a two-hundred day moving average of $402.03.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Gold is attempting to recover as the U.S. dollar and Treasury yields pull back, improving the appeal of non-yielding bullion. A hold above the roughly $4,100–$4,103 support zone could encourage a double-bottom or bullish-wedge breakout. Gold attempts to rebound as Treasury yields pull back
• Positive Sentiment: Strategists at Sprott said gold’s resilience despite elevated bond yields, fresh ETF inflows, central-bank diversification away from dollar assets and persistent inflation support the longer-term bullish case. Gold gains ground as central banks retreat from dollar assets
• Positive Sentiment: China’s central bank added 21 tonnes of gold in September, its largest monthly purchase in three years and the 23rd consecutive month of buying, reinforcing official-sector demand for bullion and indirectly supporting GLD. China’s central bank buys 21 tonnes of gold
• Neutral Sentiment: Analysts view the recent decline as a potential long-term entry opportunity, citing central-bank purchases, diversification demand and possible future rate support, although near-term momentum remains uncertain. Gold ETF down 13% in six months
• Negative Sentiment: Fed minutes and stronger-than-expected jobless-claims data have kept the possibility of another rate hike alive. Higher yields and a stronger dollar raise the opportunity cost of holding gold and remain the main pressure on GLD. Fed minutes weigh on gold
• Negative Sentiment: Gold’s bearish trend remains intact while prices test major technical support. A sustained break below approximately $4,100 could trigger additional selling and weigh on GLD. Gold continues to face pressures

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.