Beto Financial Group LLC Buys New Stake in SPDR Gold Shares $GLD

Beto Financial Group LLC bought a new stake in SPDR Gold Shares (NYSEARCA:GLD) in the 4th quarter, HoldingsChannel.com reports. The firm bought 7,181 shares of the exchange traded fund’s stock, valued at approximately $3,067,000. SPDR Gold Shares accounts for 2.1% of Beto Financial Group LLC’s portfolio, making the stock its 10th biggest position.

Several other large investors have also recently made changes to their positions in the company. Allen Investment Management LLC lifted its stake in shares of SPDR Gold Shares by 7.5% in the 4th quarter. Allen Investment Management LLC now owns 479,794 shares of the exchange traded fund’s stock valued at $190,147,000 after purchasing an additional 33,431 shares during the period. Root Financial Partners LLC lifted its stake in shares of SPDR Gold Shares by 5.3% in the 4th quarter. Root Financial Partners LLC now owns 1,318 shares of the exchange traded fund’s stock valued at $522,000 after purchasing an additional 66 shares during the period. Cogent Private Wealth Inc. acquired a new position in shares of SPDR Gold Shares in the 4th quarter valued at $2,953,000. Tandem Financial LLC lifted its stake in shares of SPDR Gold Shares by 5.0% in the 4th quarter. Tandem Financial LLC now owns 10,267 shares of the exchange traded fund’s stock valued at $4,069,000 after purchasing an additional 486 shares during the period. Finally, Three Bridge Wealth Advisors LLC lifted its stake in shares of SPDR Gold Shares by 0.9% in the 4th quarter. Three Bridge Wealth Advisors LLC now owns 41,686 shares of the exchange traded fund’s stock valued at $16,521,000 after purchasing an additional 389 shares during the period. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Price Performance

GLD opened at $411.26 on Tuesday. The firm has a fifty day moving average price of $424.95 and a 200 day moving average price of $426.83. The stock has a market cap of $149.58 billion, a P/E ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 1 year low of $299.89 and a 1 year high of $509.70.

SPDR Gold Shares News Roundup

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

• Negative Sentiment: Gold fell from a two-week high as the dollar strengthened and oil prices jumped amid fresh U.S.-Iran strikes, creating a headwind for the metal and for SPDR Gold Shares (GLD). Update: Gold Falls Off a Two-Week High as Oil Rises as the U.S. and Iran Trade Strikes
• Negative Sentiment: Spot gold was lower as crude oil climbed, Treasury yields firmed, and U.S.-Iran negotiations remained unresolved, reinforcing a risk-off but dollar-supportive backdrop that can pressure GLD. Gold falls as oil jumps on U.S.-Iran deadlock – Kitco PM Report
• Negative Sentiment: Better-than-expected U.S. manufacturing data pushed gold lower by supporting Treasury yields and reducing expectations for near-term Fed rate cuts. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
• Negative Sentiment: Several market commentary pieces also pointed to a stronger dollar, higher oil, and easing rate-cut bets as reasons gold retreated, which is weighing on GLD sentiment. Gold News: Rising Oil Prices Darken Gold Price Future Before Payrolls

SPDR Gold Shares Company 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.