SPDR Gold Shares $GLD Shares Bought by Mader & Shannon Wealth Management Inc.

Mader & Shannon Wealth Management Inc. grew its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 2.2% during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 69,358 shares of the exchange traded fund’s stock after purchasing an additional 1,472 shares during the quarter. SPDR Gold Shares makes up about 11.1% of Mader & Shannon Wealth Management Inc.’s investment portfolio, making the stock its 3rd biggest position. Mader & Shannon Wealth Management Inc.’s holdings in SPDR Gold Shares were worth $26,414,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the business. Livelsberger Financial Advisory acquired a new position in SPDR Gold Shares in the third quarter valued at $30,000. Parvin Asset Management LLC purchased a new position in SPDR Gold Shares during the first quarter worth about $31,000. NBH Bank acquired a new stake in SPDR Gold Shares in the 2nd quarter worth about $41,000. Trust Co. of Vermont acquired a new stake in SPDR Gold Shares in the 2nd quarter worth about $43,000. Finally, IMG Wealth Management Inc. boosted its stake in SPDR Gold Shares by 440.9% in the 3rd quarter. IMG Wealth Management Inc. now owns 119 shares of the exchange traded fund’s stock worth $45,000 after buying an additional 97 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

More SPDR Gold Shares News

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

• Positive Sentiment: One analyst says proposed Democratic spending could weaken the U.S. dollar and provide a longer-term floor for gold. Midterm-related buying had also helped gold return above $4,000 an ounce. Article: Dems’ spending plans could weaken the dollar and support gold
• Neutral Sentiment: Election results may have reduced some uncertainty, but traders still see the Federal Reserve and the President as key influences on the dollar and gold. Markets are awaiting the Fed’s December decision. Article: Gold and the dollar remain dependent on Trump and the Fed
• Negative Sentiment: October payrolls rose by 165,000, stronger than expected, lifting the dollar and real yields and increasing expectations of a possible December Fed rate hike. That pressured gold and threatens its $4,000-an-ounce support; a sustained break could deepen bullion’s pullback, weighing on GLD. Article: Gold faces risk to $4,000 support after strong payrolls

SPDR Gold Shares Trading Down 0.8%

GLD traded down $2.97 during midday trading on Friday, hitting $372.52. The company’s stock had a trading volume of 7,393,978 shares, compared to its average volume of 11,419,466. The firm has a market cap of $135.93 billion, a P/E ratio of -32.43 and a beta of 0.20. The firm has a 50-day moving average price of $384.96 and a two-hundred day moving average price of $411.53. SPDR Gold Shares has a 52-week low of $354.67 and a 52-week high of $509.70.

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.