Moneco Advisors LLC Boosts Position in SPDR Gold Shares $GLD

Moneco Advisors LLC grew its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 7.5% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 27,861 shares of the exchange traded fund’s stock after buying an additional 1,942 shares during the period. SPDR Gold Shares accounts for 0.9% of Moneco Advisors LLC’s portfolio, making the stock its 21st biggest position. Moneco Advisors LLC’s holdings in SPDR Gold Shares were worth $11,041,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. WPG Advisers LLC purchased a new position in SPDR Gold Shares during the fourth quarter valued at $25,000. Hopwood Financial Services Inc. purchased a new stake in shares of SPDR Gold Shares in the 3rd quarter worth about $27,000. Vestwell Advisors LLC bought a new position in shares of SPDR Gold Shares in the 3rd quarter worth about $27,000. USA Financial Formulas purchased a new position in SPDR Gold Shares during the 4th quarter valued at about $31,000. Finally, Chapman Financial Group LLC purchased a new position in SPDR Gold Shares during the 2nd quarter valued at about $26,000. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

Shares of GLD opened at $430.50 on Thursday. SPDR Gold Shares has a fifty-two week low of $291.78 and a fifty-two week high of $509.70. The firm’s 50-day simple moving average is $437.45 and its two-hundred day simple moving average is $422.61. The stock has a market cap of $156.57 billion, a PE ratio of -32.43 and a beta of 0.15.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Some analysts and strategists still see a constructive longer-term setup for gold, with commentary pointing to inflation, heavy U.S. debt, and geopolitical uncertainty as reasons the metal could remain supported over time. Gold will navigate near-term headwinds to reach $5,000/oz by year-end – ING’s Manthey
• Positive Sentiment: India’s higher import tariffs on gold and silver could support prices by tightening demand in one of the world’s biggest precious-metals markets. India Raises Gold, Silver Tariffs to Curb Imports
• Neutral Sentiment: Technical coverage suggests GLD is near an important support zone, with traders watching moving averages to see whether the recent pullback turns into a bounce or a deeper correction. The gold chart looks poised for a bounce. How to play it for less
• Neutral Sentiment: Gold is also being described as range-bound near a key 100-day moving average, leaving direction dependent on whether buyers can reclaim technical resistance. Gold (XAU/USD) Price Forecast: 100-Day Average Defines Next Move
• Negative Sentiment: Multiple reports say gold weakened after the latest U.S. producer-price and inflation prints, as stronger yields and a firmer dollar pressured bullion lower. Gold weakens, silver tests $90 after April producer-price shock – Kitco PM Report

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.