Fox Hill Wealth Management Increases Position in SPDR Gold Shares $GLD

Fox Hill Wealth Management lifted its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 8.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,164 shares of the exchange traded fund’s stock after purchasing an additional 1,400 shares during the quarter. SPDR Gold Shares accounts for 3.3% of Fox Hill Wealth Management’s portfolio, making the stock its 5th largest position. Fox Hill Wealth Management’s holdings in SPDR Gold Shares were worth $7,198,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in SPDR Gold Shares in the 4th quarter valued at $25,000. Eukles Asset Management bought a new stake in SPDR Gold Shares in the 4th quarter valued at $27,000. Vestwell Advisors LLC bought a new stake in SPDR Gold Shares in the 3rd quarter valued at $27,000. USA Financial Formulas bought a new stake in SPDR Gold Shares in the 4th quarter valued at $31,000. Finally, Chapman Financial Group LLC bought a new stake in SPDR Gold Shares in the 2nd quarter valued at $26,000. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares Trading Up 3.1%

GLD opened at $386.32 on Friday. The stock has a market capitalization of $140.50 billion, a P/E ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a 12 month low of $299.89 and a 12 month high of $509.70. The firm’s fifty day simple moving average is $422.52 and its 200 day simple moving average is $427.97.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold found buyers after testing major support, with some analysts saying the market may be forming a bottom near the $4,000 area. Gold (XAU/USD) Price Forecast: Undercut Setup Signals Potential Bottom
• Positive Sentiment: Some strategists argued the longer-term gold bull market is still intact despite the recent drop below key price levels, which could encourage dip buying in GLD. Don’t fear a drop below $4,000, gold’s bull market isnt broken – Thorsten Polleit
• Neutral Sentiment: Gold and GLD remain under pressure from higher-for-longer interest rate expectations, a stronger dollar, and elevated bond yields, which have driven the metal to recent six- and seven-month lows. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor
• Neutral Sentiment: Mixed macro signals are keeping the ETF volatile: hotter-than-expected PPI and CPI readings are bearish for gold, while safe-haven demand from geopolitical tensions and talk of a potential bottom are offering some support. Update: Gold Rises on a Restart of Iranian Talks; U.S. Wholesale Inflation Rose More Than Expected in May
• Negative Sentiment: Several market reports warned that the recent decline may not be over, with GLD breaking key technical support and some traders betting the pain could last longer if rates stay elevated. As gold’s tumble continues, traders bet the pain may last for two more years

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.