SVB Wealth LLC Acquires 2,430 Shares of SPDR Gold Shares $GLD

SVB Wealth LLC raised its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 27.9% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 11,145 shares of the exchange traded fund’s stock after buying an additional 2,430 shares during the period. SVB Wealth LLC’s holdings in SPDR Gold Shares were worth $4,244,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Financial Management Professionals Inc. lifted its holdings in SPDR Gold Shares by 0.6% in the 2nd quarter. Financial Management Professionals Inc. now owns 4,414 shares of the exchange traded fund’s stock worth $1,626,000 after purchasing an additional 27 shares during the last quarter. Kraft Davis & Associates LLC grew its holdings in SPDR Gold Shares by 0.6% during the second quarter. Kraft Davis & Associates LLC now owns 4,595 shares of the exchange traded fund’s stock valued at $1,714,000 after purchasing an additional 27 shares during the last quarter. Capital City Trust Co. FL grew its holdings in SPDR Gold Shares by 1.8% during the second quarter. Capital City Trust Co. FL now owns 1,516 shares of the exchange traded fund’s stock valued at $558,000 after purchasing an additional 27 shares during the last quarter. Peoples Bank KS raised its position in shares of SPDR Gold Shares by 2.0% in the third quarter. Peoples Bank KS now owns 1,410 shares of the exchange traded fund’s stock valued at $537,000 after purchasing an additional 27 shares during the period. Finally, LCM Capital Management Inc raised its position in shares of SPDR Gold Shares by 4.4% in the third quarter. LCM Capital Management Inc now owns 634 shares of the exchange traded fund’s stock valued at $241,000 after purchasing an additional 27 shares during the period. 42.19% of the stock is currently owned by institutional investors.

Key SPDR Gold Shares News

Here’s some of the latest news about GLD:

• Positive Sentiment: Société Générale sees a potential tailwind from index rebalancing in the new year, estimating it could generate about $3.3 billion in gold buying after the recent decline. Article: Gold could see $3.3 billion in buying on index rebalancing
• Positive Sentiment: BlackRock’s investment strategist said gold continues to benefit from key sources of demand and can diversify portfolios, offering a longer-term supportive view despite near-term weakness. Article: BlackRock on gold and silver demand
• Negative Sentiment: Hot U.S. inflation data pushed Treasury and real yields higher and strengthened the dollar, while markets increased bets on Fed rate hikes. Gold slid below $3,900 an ounce, and analysts warned of further downside; the late-session report said the same pressures continued to weigh on bullion. Article: Gold faces pressure as real yields climb Article: Gold and silver slide as yields surge

SPDR Gold Shares Trading Down 2.8%

Shares of SPDR Gold Shares stock opened at $354.89 on Friday. The firm has a fifty day simple moving average of $382.00 and a 200-day simple moving average of $409.78. SPDR Gold Shares has a 1-year low of $352.91 and a 1-year high of $509.70. The stock has a market capitalization of $129.71 billion, a price-to-earnings ratio of -32.43 and a beta of 0.20.

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.