SPDR Gold Shares $GLD Shares Sold by Essex Financial Services Inc.

Essex Financial Services Inc. cut its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 2.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 82,047 shares of the exchange traded fund’s stock after selling 1,720 shares during the period. SPDR Gold Shares makes up approximately 1.8% of Essex Financial Services Inc.’s holdings, making the stock its 8th biggest position. Essex Financial Services Inc.’s holdings in SPDR Gold Shares were worth $32,516,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Brighton Jones LLC raised its holdings in shares of SPDR Gold Shares by 20.4% during the 4th quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock valued at $2,723,000 after purchasing an additional 1,903 shares in the last quarter. Bison Wealth LLC raised its holdings in shares of SPDR Gold Shares by 77.8% during the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after purchasing an additional 2,600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of SPDR Gold Shares during the 1st quarter valued at $16,014,000. Schnieders Capital Management LLC. raised its holdings in shares of SPDR Gold Shares by 4.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock valued at $1,829,000 after purchasing an additional 275 shares in the last quarter. Finally, Prudential Financial Inc. bought a new position in shares of SPDR Gold Shares during the 2nd quarter valued at $337,000. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares Trading Up 1.1%

SPDR Gold Shares stock opened at $417.12 on Friday. The company has a market capitalization of $151.71 billion, a P/E ratio of -32.43 and a beta of 0.15. The firm’s fifty day simple moving average is $425.25 and its 200-day simple moving average is $426.28. SPDR Gold Shares has a 1-year low of $299.89 and a 1-year high of $509.70.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Gold prices bounced as traders looked for a bullish reversal near key technical support, with some analysts saying buyers are still defending the long-term trend. Gold (XAU/USD) Price Forecast: Falling Wedge Signals Bullish Reversal
• Positive Sentiment: Weaker U.S. growth data and softer labor readings have kept alive hopes that the Federal Reserve could cut rates later this year, which tends to be supportive for gold. Gold rebounds as weak GDP offsets Hormuz risk – Kitco PM Report
• Positive Sentiment: Gold also benefited from renewed buying on dips and lingering geopolitical uncertainty, including headlines tied to Iran and the Middle East. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Prices Jump Amid Iran Deal Hopes
• Neutral Sentiment: Investors are now watching U.S. manufacturing, jobs, and other macro data for clues on inflation and interest rates, which could drive gold and GLD next. Gold braces for labor market week as investors eye manufacturing, jobs data
• Negative Sentiment: Gold has also faced selling pressure as inflation worries, higher yields, and a firmer dollar pushed prices to a two-month low at points this week, limiting upside for GLD. Gold tumbles to two-month low as inflation hedge status fades

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.