SPDR Gold Shares $GLD Shares Bought by Independence Financial Advisors LLC

Independence Financial Advisors LLC grew its stake in SPDR Gold Shares (NYSEARCA:GLD) by 4.5% during the third quarter, HoldingsChannel reports. The firm owned 36,897 shares of the exchange traded fund’s stock after purchasing an additional 1,585 shares during the quarter. SPDR Gold Shares comprises approximately 3.5% of Independence Financial Advisors LLC’s portfolio, making the stock its 9th biggest holding. Independence Financial Advisors LLC’s holdings in SPDR Gold Shares were worth $14,052,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of GLD. Private Wealth Management Group LLC purchased a new position in SPDR Gold Shares during the 1st quarter worth $30,000. Parvin Asset Management LLC purchased a new stake in shares of SPDR Gold Shares in the first quarter valued at about $31,000. Longview Financial Advisors Inc. acquired a new position in shares of SPDR Gold Shares during the first quarter worth about $35,000. NBH Bank purchased a new position in SPDR Gold Shares during the second quarter worth about $41,000. Finally, Trust Co. of Vermont acquired a new stake in SPDR Gold Shares in the second quarter valued at about $43,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold is attempting to recover as the U.S. dollar and Treasury yields pull back, improving the appeal of non-yielding bullion. A hold above the roughly $4,100–$4,103 support zone could encourage a double-bottom or bullish-wedge breakout. Gold attempts to rebound as Treasury yields pull back
• Positive Sentiment: Strategists at Sprott said gold’s resilience despite elevated bond yields, fresh ETF inflows, central-bank diversification away from dollar assets and persistent inflation support the longer-term bullish case. Gold gains ground as central banks retreat from dollar assets
• Positive Sentiment: China’s central bank added 21 tonnes of gold in September, its largest monthly purchase in three years and the 23rd consecutive month of buying, reinforcing official-sector demand for bullion and indirectly supporting GLD. China’s central bank buys 21 tonnes of gold
• Neutral Sentiment: Analysts view the recent decline as a potential long-term entry opportunity, citing central-bank purchases, diversification demand and possible future rate support, although near-term momentum remains uncertain. Gold ETF down 13% in six months
• Negative Sentiment: Fed minutes and stronger-than-expected jobless-claims data have kept the possibility of another rate hike alive. Higher yields and a stronger dollar raise the opportunity cost of holding gold and remain the main pressure on GLD. Fed minutes weigh on gold
• Negative Sentiment: Gold’s bearish trend remains intact while prices test major technical support. A sustained break below approximately $4,100 could trigger additional selling and weigh on GLD. Gold continues to face pressures

SPDR Gold Shares Price Performance

NYSEARCA GLD traded up $2.74 on Thursday, hitting $378.62. 9,575,749 shares of the company’s stock were exchanged, compared to its average volume of 11,705,287. The firm has a market cap of $140.24 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18. The firm’s 50-day moving average price is $397.44 and its two-hundred day moving average price is $402.03. SPDR Gold Shares has a fifty-two week low of $360.12 and a fifty-two week high of $509.70.

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.