SPDR Gold Shares $GLD Stake Lifted by D.B. Root & Company LLC

D.B. Root & Company LLC grew its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 14,331 shares of the exchange traded fund’s stock after purchasing an additional 1,412 shares during the quarter. SPDR Gold Shares accounts for 1.2% of D.B. Root & Company LLC’s portfolio, making the stock its 17th largest position. D.B. Root & Company LLC’s holdings in SPDR Gold Shares were worth $5,458,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently modified their holdings 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 valued at $1,626,000 after acquiring an additional 27 shares during the last quarter. Kraft Davis & Associates LLC grew its stake in shares of SPDR Gold Shares by 0.6% in the 2nd quarter. Kraft Davis & Associates LLC now owns 4,595 shares of the exchange traded fund’s stock worth $1,714,000 after purchasing an additional 27 shares during the last quarter. Capital City Trust Co. FL grew its stake in shares of SPDR Gold Shares by 1.8% in the 2nd quarter. Capital City Trust Co. FL now owns 1,516 shares of the exchange traded fund’s stock worth $558,000 after purchasing an additional 27 shares during the last quarter. Peoples Bank KS grew its stake in shares of SPDR Gold Shares by 2.0% in the 3rd quarter. Peoples Bank KS now owns 1,410 shares of the exchange traded fund’s stock worth $537,000 after purchasing an additional 27 shares during the last quarter. Finally, LCM Capital Management Inc grew its stake in shares of SPDR Gold Shares by 4.4% in the 3rd quarter. LCM Capital Management Inc now owns 634 shares of the exchange traded fund’s stock worth $241,000 after purchasing an additional 27 shares during the last quarter. Institutional investors 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: China continued adding to its gold reserves, extending its buying streak to a second year. Ongoing central-bank purchases may help support gold demand and GLD over the longer term. China buys gold for two straight years as central bank demand remains a key pillar of support
• Positive Sentiment: Gold edged higher in early Asian trading after a sharp overnight drop, which one report described as a likely technical rebound. This could provide short-term support, though it does not reverse the pressure from inflation and rate expectations. Gold Edges Higher in Likely Technical Rebound
• Neutral Sentiment: A Fed economist said recent central-bank gold repatriations have had little effect on those countries’ U.S. dollar reserve allocations. The report offers context on gold demand but does not point to a clear near-term change in GLD’s outlook. Gold reserve repatriations don’t mean central banks are de-dollarizing – Fed’s Weiss
• Negative Sentiment: Hotter U.S. CPI drove gold sharply lower and increased expectations for a December Fed rate hike, with the possibility of a larger adjustment also raised. Higher yields and a stronger dollar are headwinds for bullion and GLD. Gold, silver plunge as hotter U.S. inflation raises prospect of larger Fed rate hike
• Negative Sentiment: SPDR Gold Shares reportedly saw about $1.8 billion in outflows in October. Continued withdrawals could weigh on demand for the fund, even as gold-mining stocks attract investor interest. Forget the ETF Outflows: Gold Miners Offer 3X Leverage As Cash Flow Surges

SPDR Gold Shares Price Performance

GLD stock opened at $369.36 on Wednesday. The firm has a market cap of $134.78 billion, a PE ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a 12 month low of $354.67 and a 12 month high of $509.70. The firm has a 50 day simple moving average of $383.59 and a 200 day simple moving average of $410.80.

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.