SG Trading Solutions LLC Makes New Investment in SPDR Gold Shares $GLD

SG Trading Solutions LLC purchased a new stake in SPDR Gold Shares (NYSEARCA:GLD) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 11,045 shares of the exchange traded fund’s stock, valued at approximately $4,377,000. SPDR Gold Shares makes up about 1.0% of SG Trading Solutions LLC’s investment portfolio, making the stock its 18th largest holding.

Several other large investors have also modified their holdings of GLD. Prepared Retirement Institute LLC raised its position in shares of SPDR Gold Shares by 1.6% during the 4th quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock worth $526,000 after purchasing an additional 21 shares during the last quarter. Hughes Financial Services LLC lifted its stake in SPDR Gold Shares by 3.4% in the 4th quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock valued at $264,000 after buying an additional 22 shares in the last quarter. True Vision MN LLC grew its holdings in SPDR Gold Shares by 3.2% during the 4th quarter. True Vision MN LLC now owns 768 shares of the exchange traded fund’s stock valued at $304,000 after buying an additional 24 shares during the last quarter. Burns J W & Co. Inc. NY grew its holdings in SPDR Gold Shares by 0.7% during the 4th quarter. Burns J W & Co. Inc. NY now owns 3,500 shares of the exchange traded fund’s stock valued at $1,387,000 after buying an additional 25 shares during the last quarter. Finally, PFS Partners LLC increased its position in SPDR Gold Shares by 2.4% during the fourth quarter. PFS Partners LLC now owns 1,078 shares of the exchange traded fund’s stock worth $427,000 after buying an additional 25 shares in the last quarter. 42.19% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting SPDR Gold Shares

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

• Negative Sentiment: Gold prices are retreating as the dollar tests yearly highs and traders reprice the Fed’s “higher-for-longer” message after the policy meeting. Gold, silver sink as dollar tests yearly highs following hawkish Fed – Kitco PM Report
• Negative Sentiment: Gold is also being pressured by stronger U.S. data, including a rebound in the Philly Fed survey and solid labor-market readings, which reduce expectations for near-term easing. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June
• Neutral Sentiment: Some analysts say gold ETFs still deserve a place in long-term portfolios because of central-bank buying and diversification benefits, which may help limit downside over time. Why Gold ETFs Still Deserve a Place in Long-Term Portfolios
• Neutral Sentiment: Broader geopolitical uncertainty and central-bank reserve accumulation continue to provide a long-term backdrop of support, even as short-term pricing weakens. Central banks are bringing gold reserves home as geopolitical risks rise
• Negative Sentiment: Technical analysts warn that gold has broken lower from recent resistance and may be heading toward key support zones, suggesting more near-term downside for GLD if the selling continues. Gold (XAU/USD) Price Forecast: Can Bulls Defend Fibonacci Support?

SPDR Gold Shares Stock Down 0.4%

NYSEARCA GLD opened at $387.12 on Friday. SPDR Gold Shares has a fifty-two week low of $299.89 and a fifty-two week high of $509.70. The stock has a market cap of $140.80 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. The business has a fifty day moving average of $418.52 and a 200-day moving average of $428.27.

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.