SPDR Gold Shares $GLD Shares Sold by Strategic Wealth Investment Group LLC

Strategic Wealth Investment Group LLC lessened its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 41.9% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 49,807 shares of the exchange traded fund’s stock after selling 35,986 shares during the period. SPDR Gold Shares comprises approximately 2.4% of Strategic Wealth Investment Group LLC’s portfolio, making the stock its 14th biggest position. Strategic Wealth Investment Group LLC’s holdings in SPDR Gold Shares were worth $19,739,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Calder Financial LLC acquired a new stake in SPDR Gold Shares during the fourth quarter valued at $807,000. Empirical Asset Management LLC boosted its position in SPDR Gold Shares by 256.7% during the third quarter. Empirical Asset Management LLC now owns 36,404 shares of the exchange traded fund’s stock valued at $12,941,000 after purchasing an additional 26,197 shares during the last quarter. Colonial Trust Advisors boosted its position in SPDR Gold Shares by 7.6% during the third quarter. Colonial Trust Advisors now owns 19,720 shares of the exchange traded fund’s stock valued at $7,010,000 after purchasing an additional 1,385 shares during the last quarter. Crescent Grove Advisors LLC boosted its position in SPDR Gold Shares by 25.3% during the fourth quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock valued at $6,230,000 after purchasing an additional 3,175 shares during the last quarter. Finally, Ervin Investment Management LLC acquired a new stake in SPDR Gold Shares during the fourth quarter valued at $7,178,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Trading Down 3.7%

GLD opened at $396.24 on Friday. The stock has a market cap of $144.11 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a 1 year low of $299.89 and a 1 year high of $509.70. The stock has a fifty day moving average price of $424.74 and a 200 day moving average price of $427.22.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Some analysts still view the pullback as a buying opportunity, arguing that long-term inflation concerns and strategic demand for gold could support a rebound. Gold breaks below key technical support, but analysts see a buying opportunity
• Neutral Sentiment: There are still longer-term bullish arguments for gold, including deglobalization, central bank buying, and forecasts calling for higher average gold prices later this year. Deglobalization sparks race for strategic resources, driving gold and copper outlook – Sohn Montreal
• Negative Sentiment: Stronger U.S. employment data pushed yields and the dollar higher, fueling a broad selloff in gold and other precious metals. Gold Falls as the Dollar and Yields Rise After an Unexpected Surge in May U.S. Employment
• Negative Sentiment: Gold slipped below major support levels as traders bet the Federal Reserve may remain hawkish for longer, extending the technical downtrend. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Dives 3% As Traders Bet On Hawkish Fed
• Negative Sentiment: Multiple market updates pointed to additional selling pressure after nonfarm payrolls came in much stronger than expected, reinforcing higher-rate expectations. Gold price see solid selling pressure as U.S. economy created 172k jobs in May

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.