Fortis Advisors LLC Sells 2,431 Shares of SPDR Gold Shares $GLD

Fortis Advisors LLC reduced its stake in SPDR Gold Shares (NYSEARCA:GLD) by 51.2% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,313 shares of the exchange traded fund’s stock after selling 2,431 shares during the period. Fortis Advisors LLC’s holdings in SPDR Gold Shares were worth $917,000 as of its most recent filing with the Securities and Exchange Commission.

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

SPDR Gold Shares Trading Up 1.1%

SPDR Gold Shares stock opened at $417.12 on Friday. The company has a market capitalization of $151.71 billion, a PE ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 12 month low of $299.89 and a 12 month high of $509.70. The stock has a 50-day moving average price of $425.25 and a two-hundred day moving average price of $426.28.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold prices bounced as traders looked for a bullish reversal near key technical support, with some analysts saying buyers are still defending the long-term trend. Gold (XAU/USD) Price Forecast: Falling Wedge Signals Bullish Reversal
• Positive Sentiment: Weaker U.S. growth data and softer labor readings have kept alive hopes that the Federal Reserve could cut rates later this year, which tends to be supportive for gold. Gold rebounds as weak GDP offsets Hormuz risk – Kitco PM Report
• Positive Sentiment: Gold also benefited from renewed buying on dips and lingering geopolitical uncertainty, including headlines tied to Iran and the Middle East. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Prices Jump Amid Iran Deal Hopes
• Neutral Sentiment: Investors are now watching U.S. manufacturing, jobs, and other macro data for clues on inflation and interest rates, which could drive gold and GLD next. Gold braces for labor market week as investors eye manufacturing, jobs data
• Negative Sentiment: Gold has also faced selling pressure as inflation worries, higher yields, and a firmer dollar pushed prices to a two-month low at points this week, limiting upside for GLD. Gold tumbles to two-month low as inflation hedge status fades

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.