Ascent Wealth Partners LLC Buys 1,624 Shares of SPDR Gold Shares $GLD

Ascent Wealth Partners LLC raised its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 3.9% in the first quarter, Holdings Channel.com reports. The institutional investor owned 43,734 shares of the exchange traded fund’s stock after buying an additional 1,624 shares during the period. SPDR Gold Shares comprises 2.2% of Ascent Wealth Partners LLC’s holdings, making the stock its 8th largest position. Ascent Wealth Partners LLC’s holdings in SPDR Gold Shares were worth $18,818,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WPG Advisers LLC acquired a new position in SPDR Gold Shares during the fourth quarter valued at $25,000. Timmons Wealth Management LLC purchased a new stake in shares of SPDR Gold Shares in the fourth quarter worth approximately $26,000. Chapman Financial Group LLC acquired a new stake in shares of SPDR Gold Shares during the second quarter worth approximately $26,000. Eukles Asset Management acquired a new stake in shares of SPDR Gold Shares during the fourth quarter worth approximately $27,000. Finally, Private Wealth Management Group LLC purchased a new position in SPDR Gold Shares during the first quarter valued at approximately $30,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Performance

SPDR Gold Shares stock opened at $368.41 on Friday. SPDR Gold Shares has a twelve month low of $300.95 and a twelve month high of $509.70. The firm has a market cap of $129.31 billion, a PE ratio of -32.43 and a beta of 0.17. The firm’s 50 day moving average price is $393.74 and its two-hundred day moving average price is $424.69.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold briefly rebounded near $4,000/oz after softer U.S. inflation expectations and stronger consumer sentiment, which can support demand for safe-haven assets. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Positive Sentiment: Some analysts say the broader gold bull market is not over and that central-bank buying remains a structural support for prices over the long term. Gold Rises; Central Bank Buying Likely to Remain Structural Driver
• Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and product choice in the gold ETF space. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold has slipped to an eight-month low and is struggling to hold support, with traders focused on bearish technical levels near $3,942 and below. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Stronger U.S. economic data, rising Treasury yields, and a firmer dollar have reduced demand for gold as a defensive asset. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report
• Negative Sentiment: SPDR Gold Shares has seen heavy investor outflows since March, signaling fading appetite for GLD amid gold’s pullback. Largest U.S. gold ETF sees 14 billion in outflows since March, amid gold’s year-to-date pullback

About SPDR Gold Shares

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.