SPDR Gold Shares $GLD Shares Sold by Wealthfront Advisers LLC

Wealthfront Advisers LLC trimmed its position in SPDR Gold Shares (NYSEARCA:GLD) by 10.6% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 112,615 shares of the exchange traded fund’s stock after selling 13,288 shares during the period. Wealthfront Advisers LLC’s holdings in SPDR Gold Shares were worth $41,485,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Foster & Motley Inc. lifted its position in SPDR Gold Shares by 148.4% during the 2nd quarter. Foster & Motley Inc. now owns 1,483 shares of the exchange traded fund’s stock worth $546,000 after acquiring an additional 886 shares during the period. M. Kulyk & Associates LLC increased its holdings in shares of SPDR Gold Shares by 7.9% during the 2nd quarter. M. Kulyk & Associates LLC now owns 1,366 shares of the exchange traded fund’s stock valued at $503,000 after purchasing an additional 100 shares in the last quarter. Gould Capital LLC raised its position in shares of SPDR Gold Shares by 1.4% in the second quarter. Gould Capital LLC now owns 12,767 shares of the exchange traded fund’s stock worth $4,703,000 after acquiring an additional 177 shares during the period. Pension & Wealth Management Advisors Inc. raised its holdings in SPDR Gold Shares by 218.3% in the 2nd quarter. Pension & Wealth Management Advisors Inc. now owns 729 shares of the exchange traded fund’s stock worth $269,000 after purchasing an additional 500 shares during the period. Finally, Argyle Capital Partners LLC raised its stake in shares of SPDR Gold Shares by 51.5% during the 2nd quarter. Argyle Capital Partners LLC now owns 1,000 shares of the exchange traded fund’s stock worth $368,000 after buying an additional 340 shares during the period. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 0.8%

GLD opened at $426.69 on Tuesday. SPDR Gold Shares has a 52-week low of $309.67 and a 52-week high of $509.70. The firm’s fifty day simple moving average is $383.48 and its two-hundred day simple moving average is $417.22. The company has a market cap of $150.66 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Gold prices advanced as concerns about the sustainability of U.S. government debt revived the “debasement trade.” A Bank of America survey found that speculative investors raised bullish gold positions for a third consecutive week, while many respondents viewed gold as undervalued. BofA survey says gold is undervalued and bullish speculative interest picks up
• Positive Sentiment: A weaker U.S. dollar, Treasury buyback plans and reported record exchange-traded-fund inflows are keeping buyers active and supporting expectations that gold’s breakout can continue. Gold ETF inflows confirm market breakout after buyback plan
• Positive Sentiment: Gold remained firm despite elevated Treasury yields, supported by fiscal-risk hedging, dollar weakness and lingering geopolitical uncertainty. The metal’s move above its 200-day moving average is also a positive technical signal for GLD. Gold nears $4,660 as PCE and Jackson Hole frame Fed trade
• Neutral Sentiment: Near-term direction may depend on upcoming inflation data and Federal Reserve commentary. Sticky inflation or a renewed prospect of rate hikes could interrupt gold’s rally by supporting yields and the dollar. Gold rally depends on sustained investment demand and Fed inflation response
• Neutral Sentiment: A large transaction involving the sale of nearly 116,000 GLD call options expiring September 18 could signal caution about near-term upside, although its investor and market-making implications are uncertain. A massive trade just happened in gold options
• Negative Sentiment: Investors holding GLD in taxable accounts should note that long-term gains may be taxed at the 28% collectibles rate rather than the lower rate commonly associated with other ETFs, potentially reducing after-tax returns. GLD gains are taxed as a collectible

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.