Dorsey Wright & Associates Boosts Stake in SPDR Gold Shares $GLD

Dorsey Wright & Associates boosted its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 127.2% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 22,035 shares of the exchange traded fund’s stock after acquiring an additional 12,338 shares during the period. SPDR Gold Shares accounts for approximately 1.2% of Dorsey Wright & Associates’ investment portfolio, making the stock its 27th biggest position. Dorsey Wright & Associates’ holdings in SPDR Gold Shares were worth $9,481,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Euro Pacific Asset Management LLC raised its stake in shares of SPDR Gold Shares by 110.2% in the 1st quarter. Euro Pacific Asset Management LLC now owns 1,379 shares of the exchange traded fund’s stock valued at $593,000 after acquiring an additional 723 shares during the period. Quadrant Private Wealth Management LLC lifted its holdings in shares of SPDR Gold Shares by 9.5% in the 1st quarter. Quadrant Private Wealth Management LLC now owns 2,242 shares of the exchange traded fund’s stock worth $965,000 after acquiring an additional 194 shares during the last quarter. Simon Quick Advisors LLC boosted its position in shares of SPDR Gold Shares by 9.9% during the 1st quarter. Simon Quick Advisors LLC now owns 12,022 shares of the exchange traded fund’s stock worth $5,173,000 after purchasing an additional 1,079 shares during the period. Aire Advisors LLC boosted its position in shares of SPDR Gold Shares by 2.3% during the 1st quarter. Aire Advisors LLC now owns 1,708 shares of the exchange traded fund’s stock worth $735,000 after purchasing an additional 39 shares during the period. Finally, Cornerstone Planning Group LLC increased its holdings in SPDR Gold Shares by 126.3% in the 1st quarter. Cornerstone Planning Group LLC now owns 5,664 shares of the exchange traded fund’s stock valued at $2,369,000 after purchasing an additional 3,161 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

Key Headlines Impacting 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 Up 0.9%

Shares of NYSEARCA GLD opened at $368.41 on Friday. The firm 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 has a 52-week low of $300.95 and a 52-week high of $509.70. The business’s 50 day moving average is $393.74 and its two-hundred day moving average is $424.69.

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.