Cogent Private Wealth Inc. Invests $2.95 Million in SPDR Gold Shares $GLD

Cogent Private Wealth Inc. purchased a new stake in SPDR Gold Shares (NYSEARCA:GLD) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 7,450 shares of the exchange traded fund’s stock, valued at approximately $2,953,000. SPDR Gold Shares comprises approximately 2.2% of Cogent Private Wealth Inc.’s portfolio, making the stock its 12th largest holding.

A number of other hedge funds and other institutional investors have also bought and sold shares of GLD. WPG Advisers LLC acquired a new stake in shares of SPDR Gold Shares during the fourth quarter valued at about $25,000. Chapman Financial Group LLC acquired a new position in SPDR Gold Shares in the 2nd quarter valued at approximately $26,000. Hopwood Financial Services Inc. acquired a new position in SPDR Gold Shares in the 3rd quarter valued at approximately $27,000. Vestwell Advisors LLC bought a new position in shares of SPDR Gold Shares during the third quarter valued at $27,000. Finally, Eukles Asset Management bought a new position in shares of SPDR Gold Shares during the fourth quarter valued at $27,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Down 1.4%

Shares of SPDR Gold Shares stock opened at $411.26 on Tuesday. SPDR Gold Shares has a twelve month low of $299.89 and a twelve month high of $509.70. The stock has a market cap of $149.58 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. The company’s fifty day moving average is $424.95 and its 200 day moving average is $426.83.

More SPDR Gold Shares News

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.