Advance Capital Management Inc. Has $5.36 Million Position in SPDR Gold Shares $GLD

Advance Capital Management Inc. grew its stake in SPDR Gold Shares (NYSEARCA:GLD) by 109.7% in the first quarter, HoldingsChannel.com reports. The fund owned 12,464 shares of the exchange traded fund’s stock after acquiring an additional 6,520 shares during the period. SPDR Gold Shares makes up 0.2% of Advance Capital Management Inc.’s investment portfolio, making the stock its 28th largest position. Advance Capital Management Inc.’s holdings in SPDR Gold Shares were worth $5,363,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. Prepared Retirement Institute LLC grew its holdings in SPDR Gold Shares by 1.6% during the fourth quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock valued at $526,000 after purchasing an additional 21 shares during the period. Hughes Financial Services LLC raised its holdings in SPDR Gold Shares by 3.4% in the fourth quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock worth $264,000 after purchasing an additional 22 shares during the period. True Vision MN LLC boosted its position in shares of SPDR Gold Shares by 3.2% during the fourth quarter. True Vision MN LLC now owns 768 shares of the exchange traded fund’s stock worth $304,000 after purchasing an additional 24 shares in the last quarter. Burns J W & Co. Inc. NY boosted its position in shares of SPDR Gold Shares by 0.7% during the fourth quarter. Burns J W & Co. Inc. NY now owns 3,500 shares of the exchange traded fund’s stock worth $1,387,000 after purchasing an additional 25 shares in the last quarter. Finally, PFS Partners LLC grew its holdings in shares of SPDR Gold Shares by 2.4% in the 4th quarter. PFS Partners LLC now owns 1,078 shares of the exchange traded fund’s stock valued at $427,000 after buying an additional 25 shares during the period. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Up 1.1%

GLD opened at $382.13 on Tuesday. SPDR Gold Shares has a 12 month low of $300.95 and a 12 month high of $509.70. The company has a fifty day simple moving average of $404.49 and a 200 day simple moving average of $427.13. The stock has a market cap of $134.51 billion, a P/E ratio of -32.43 and a beta of 0.17.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Weak June jobs data boosted hopes for a more dovish Fed, lifting gold and putting GLD in focus as a potential beneficiary of lower-rate expectations. Weak June Jobs Data Likely to Boost These ETF Areas
• Positive Sentiment: Gold climbed to a two-week high as inflation worries eased and Treasury yields retreated, a bullish setup for gold ETFs. Update: Gold Rises to a Two-Week High on Easing Inflation Concerns
• Positive Sentiment: Some strategists say gold may have found a floor after the recent correction, suggesting downside pressure could be easing for GLD. Gold price may have found its floor as liquidation gives way to consolidation – Saxo Bank
• Positive Sentiment: Analysts maintained bullish long-term gold targets, citing central-bank buying and persistent demand, which supports the outlook for GLD. Natixis sticks with $4,600 gold target as central banks prepare to ramp up buying
• Neutral Sentiment: Several market updates say gold is rebounding, but technical resistance near $4,200 and upcoming Fed minutes could keep trading volatile in the short term. Gold Price Analysis – Gold Pops as Weak Jobs Report Sparks Short-Term Rally
• Negative Sentiment: Some reports note gold is still struggling to break resistance as a firmer dollar and easing geopolitical risk offset recent labor-market support, which could limit near-term gains for GLD. Gold slips as Fed minutes loom, Hormuz risk eases oil shock – Kitco AM Report

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.