SPDR Gold Shares $GLD Shares Bought by Overbrook Management Corp

Overbrook Management Corp boosted its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 116.3% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 18,218 shares of the exchange traded fund’s stock after purchasing an additional 9,794 shares during the period. SPDR Gold Shares makes up about 1.1% of Overbrook Management Corp’s portfolio, making the stock its 22nd biggest position. Overbrook Management Corp’s holdings in SPDR Gold Shares were worth $6,938,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also bought and sold shares of the stock. Private Wealth Management Group LLC purchased a new position in SPDR Gold Shares during the 1st quarter worth approximately $30,000. Parvin Asset Management LLC acquired a new stake in shares of SPDR Gold Shares in the first quarter worth $31,000. Longview Financial Advisors Inc. purchased a new position in shares of SPDR Gold Shares during the first quarter worth $35,000. NBH Bank purchased a new stake in SPDR Gold Shares in the second quarter valued at $41,000. Finally, Trust Co. of Vermont acquired a new position in shares of SPDR Gold Shares in the 2nd quarter valued at about $43,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold is receiving support from a weaker dollar and a pullback in Treasury yields, improving the appeal of non-yielding bullion and potentially benefiting GLD. Gold, Silver, Platinum Forecasts – Gold Attempts to Rebound as Treasury Yields Pull Back
• Positive Sentiment: Analysts at Sprott say gold’s resilience despite elevated bond yields, renewed ETF inflows and central banks’ continued retreat from dollar assets support a longer-term bullish outlook. Gold Gains Ground as Central Banks Retreat from Dollar Assets and Inflation Undermines Bonds
• Positive Sentiment: China’s central bank added 21 tonnes of gold in September, extending its buying streak to 23 consecutive months and providing an important source of underlying demand. China’s Central Bank Buys 21 Tonnes of Gold in September
• Positive Sentiment: Longer-term bullish arguments remain intact, including central-bank diversification, inflation concerns and portfolio demand, making the recent decline a potential accumulation opportunity for some investors. Gold ETF Down 13% in Six Months: Four Bullish Reasons for the Long Term
• Neutral Sentiment: Gold is testing major Fibonacci and trendline support around $4,100-$4,103. Holding that zone could produce a double bottom or bullish wedge breakout, while a decisive break lower would signal additional downside for GLD. Gold Price Forecast: $4,103 Support Holds Key to Next Move
• Negative Sentiment: Federal Reserve communications and meeting minutes kept the possibility of another rate hike alive. Stronger-than-expected jobless-claims data also reduced expectations for rapid policy easing, pressuring gold through higher-rate concerns. Fed Minutes Weigh on Gold as It Tests $4,100
• Negative Sentiment: Recent gains in Treasury yields and the dollar have reduced demand for gold, leaving the metal vulnerable to further losses if rates remain elevated. Gold Falls as Higher Yields and Stronger Dollar Weigh

SPDR Gold Shares Price Performance

NYSEARCA:GLD traded up $2.74 during trading hours on Thursday, reaching $378.62. The company had a trading volume of 9,575,749 shares, compared to its average volume of 11,705,287. The business’s 50 day moving average price is $397.47 and its 200-day moving average price is $401.79. SPDR Gold Shares has a 1-year low of $360.12 and a 1-year high of $509.70. The firm has a market cap of $140.24 billion, a PE ratio of -32.43 and a beta of 0.18.

SPDR Gold Shares Company 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.