3,331 Shares of SPDR Gold Shares $GLD Purchased by Pacific Wealth Management

Pacific Wealth Management bought a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 3,331 shares of the exchange traded fund’s stock, valued at approximately $1,269,000. SPDR Gold Shares accounts for about 1.0% of Pacific Wealth Management’s investment portfolio, making the stock its 11th largest position.

Several other large investors have also modified their holdings of the business. Ferguson Wellman Capital Management Inc. lifted its holdings in SPDR Gold Shares by 8.3% during the third quarter. Ferguson Wellman Capital Management Inc. now owns 3,677 shares of the exchange traded fund’s stock worth $1,400,000 after buying an additional 282 shares during the period. Polaris Financial Partners purchased a new position in shares of SPDR Gold Shares in the 3rd quarter valued at $147,000. GoalVest Advisory LLC raised its position in shares of SPDR Gold Shares by 18,658.4% in the 3rd quarter. GoalVest Advisory LLC now owns 68,093 shares of the exchange traded fund’s stock worth $25,933,000 after acquiring an additional 67,730 shares in the last quarter. Beacon Wealthcare LLC bought a new position in shares of SPDR Gold Shares in the 3rd quarter worth $204,000. Finally, Noble Wealth Management PBC raised its position in shares of SPDR Gold Shares by 3.4% in the 3rd quarter. Noble Wealth Management PBC now owns 14,526 shares of the exchange traded fund’s stock worth $5,532,000 after acquiring an additional 482 shares in the last quarter. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Down 0.2%

Shares of NYSEARCA GLD traded down $0.59 during mid-day trading on Monday, reaching $379.55. 4,240,466 shares of the company were exchanged, compared to its average volume of 11,761,888. SPDR Gold Shares has a 1 year low of $360.12 and a 1 year high of $509.70. The firm has a 50-day moving average of $396.99 and a 200 day moving average of $403.39. The stock has a market cap of $140.47 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Soft U.S. payrolls and a weaker-than-expected personal-consumption expenditures reading reduced expectations for near-term Fed tightening, supporting gold and GLD. Weak NFP Lifts Gold Forecast Gold Rises as Softer Inflation Tempers Rate Hike Bets
• Positive Sentiment: Precious-metals analysts said persistent inflation, heavy sovereign debt and declining confidence in fiat currencies are strengthening gold’s role as a store of value. Gold and the Debasement Trade
• Positive Sentiment: Bundesbank President Joachim Nagel said geopolitical risks, sanctions concerns and rising debt could encourage central banks to continue diversifying reserves into gold, a supportive longer-term demand trend for GLD. Central Banks and Gold Reserves
• Neutral Sentiment: The ISM Services PMI eased to 54.9 from 55.4, slightly below expectations. The softer activity reduced rate-hike expectations, but gold remained largely range-bound as investors assessed the mixed economic signal. Gold After ISM Services PMI
• Negative Sentiment: Long-dated Treasury yields near multi-decade highs and yields around 5.3% increase the opportunity cost of holding non-yielding gold, while a dollar near yearly highs capped gold’s recovery. Bond Yields Compete With Gold Gold Retreats as Dollar Tests Yearly Highs

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.