Patrick Mauro Investment Advisor INC. Reduces Stock Position in SPDR Gold Shares $GLD

Patrick Mauro Investment Advisor INC. lessened its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 19.8% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 6,475 shares of the exchange traded fund’s stock after selling 1,601 shares during the quarter. SPDR Gold Shares comprises about 1.5% of Patrick Mauro Investment Advisor INC.’s investment portfolio, making the stock its 24th biggest holding. Patrick Mauro Investment Advisor INC.’s holdings in SPDR Gold Shares were worth $2,804,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in GLD. Brighton Jones LLC boosted its holdings in shares of SPDR Gold Shares by 20.4% in the fourth quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after buying an additional 1,903 shares during the last quarter. Bison Wealth LLC boosted its holdings in shares of SPDR Gold Shares by 77.8% in the fourth quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock worth $1,438,000 after buying an additional 2,600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of SPDR Gold Shares in the first quarter worth approximately $16,014,000. Schnieders Capital Management LLC. boosted its holdings in shares of SPDR Gold Shares by 4.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock worth $1,829,000 after buying an additional 275 shares during the last quarter. Finally, Prudential Financial Inc. purchased a new position in shares of SPDR Gold Shares in the second quarter worth approximately $337,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 1.1%

GLD opened at $417.12 on Friday. The company has a market cap of $151.71 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. The company’s 50 day moving average is $425.25 and its 200 day moving average is $426.28. SPDR Gold Shares has a 12-month low of $299.89 and a 12-month high of $509.70.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold prices bounced as traders looked for a bullish reversal near key technical support, with some analysts saying buyers are still defending the long-term trend. Gold (XAU/USD) Price Forecast: Falling Wedge Signals Bullish Reversal
• Positive Sentiment: Weaker U.S. growth data and softer labor readings have kept alive hopes that the Federal Reserve could cut rates later this year, which tends to be supportive for gold. Gold rebounds as weak GDP offsets Hormuz risk – Kitco PM Report
• Positive Sentiment: Gold also benefited from renewed buying on dips and lingering geopolitical uncertainty, including headlines tied to Iran and the Middle East. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Prices Jump Amid Iran Deal Hopes
• Neutral Sentiment: Investors are now watching U.S. manufacturing, jobs, and other macro data for clues on inflation and interest rates, which could drive gold and GLD next. Gold braces for labor market week as investors eye manufacturing, jobs data
• Negative Sentiment: Gold has also faced selling pressure as inflation worries, higher yields, and a firmer dollar pushed prices to a two-month low at points this week, limiting upside for GLD. Gold tumbles to two-month low as inflation hedge status fades

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.