Connective Capital Management LLC Buys New Stake in SPDR Gold Shares $GLD

Connective Capital Management LLC purchased a new position in SPDR Gold Shares (NYSEARCA:GLD) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,346 shares of the exchange traded fund’s stock, valued at approximately $1,326,000. SPDR Gold Shares comprises 0.8% of Connective Capital Management LLC’s investment portfolio, making the stock its 12th largest position.

Several other large investors also recently bought and sold shares of GLD. WPG Advisers LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter worth about $25,000. Timmons Wealth Management LLC purchased a new stake in shares of SPDR Gold Shares during the 4th quarter valued at about $26,000. Eukles Asset Management purchased a new stake in shares of SPDR Gold Shares during the 4th quarter valued at about $27,000. Vestwell Advisors LLC bought a new position in shares of SPDR Gold Shares in the 3rd quarter valued at about $27,000. Finally, USA Financial Formulas bought a new position in shares of SPDR Gold Shares in the 4th quarter valued at about $31,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Down 0.4%

GLD opened at $387.12 on Friday. The firm has a market cap of $140.80 billion, a P/E ratio of -32.43 and a beta of 0.14. 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 of $418.52 and a 200 day moving average of $428.27.

Key Headlines Impacting SPDR Gold Shares

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

• Negative Sentiment: Gold prices are retreating as the dollar tests yearly highs and traders reprice the Fed’s “higher-for-longer” message after the policy meeting. Gold, silver sink as dollar tests yearly highs following hawkish Fed – Kitco PM Report
• Negative Sentiment: Gold is also being pressured by stronger U.S. data, including a rebound in the Philly Fed survey and solid labor-market readings, which reduce expectations for near-term easing. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June
• Neutral Sentiment: Some analysts say gold ETFs still deserve a place in long-term portfolios because of central-bank buying and diversification benefits, which may help limit downside over time. Why Gold ETFs Still Deserve a Place in Long-Term Portfolios
• Neutral Sentiment: Broader geopolitical uncertainty and central-bank reserve accumulation continue to provide a long-term backdrop of support, even as short-term pricing weakens. Central banks are bringing gold reserves home as geopolitical risks rise
• Negative Sentiment: Technical analysts warn that gold has broken lower from recent resistance and may be heading toward key support zones, suggesting more near-term downside for GLD if the selling continues. Gold (XAU/USD) Price Forecast: Can Bulls Defend Fibonacci Support?

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.