Consolidated Capital Management LLC Sells 23,915 Shares of SPDR Gold Shares $GLD

Consolidated Capital Management LLC reduced its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 37.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 40,496 shares of the exchange traded fund’s stock after selling 23,915 shares during the period. SPDR Gold Shares makes up 4.9% of Consolidated Capital Management LLC’s holdings, making the stock its 2nd largest position. Consolidated Capital Management LLC’s holdings in SPDR Gold Shares were worth $16,049,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in GLD. Bank of Montreal Can acquired a new position in SPDR Gold Shares during the 3rd quarter valued at about $556,282,000. Corient Private Wealth LLC increased its holdings in shares of SPDR Gold Shares by 108.1% in the second quarter. Corient Private Wealth LLC now owns 1,077,230 shares of the exchange traded fund’s stock valued at $327,500,000 after purchasing an additional 559,507 shares during the period. Axxcess Wealth Management LLC increased its holdings in shares of SPDR Gold Shares by 1,158.4% in the fourth quarter. Axxcess Wealth Management LLC now owns 504,462 shares of the exchange traded fund’s stock valued at $199,923,000 after purchasing an additional 464,376 shares during the period. Teacher Retirement System of Texas increased its holdings in shares of SPDR Gold Shares by 103.7% in the fourth quarter. Teacher Retirement System of Texas now owns 568,900 shares of the exchange traded fund’s stock valued at $225,461,000 after purchasing an additional 289,550 shares during the period. Finally, Children s Medical Center Corp acquired a new position in shares of SPDR Gold Shares in the fourth quarter valued at about $88,734,000. 42.19% of the stock is owned by institutional investors and hedge funds.

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 Stock Performance

Shares of GLD stock opened at $417.12 on Friday. The stock’s 50-day simple moving average is $425.25 and its 200-day simple moving average is $426.28. The firm has a market capitalization of $151.71 billion, a PE ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a fifty-two week low of $299.89 and a fifty-two week high of $509.70.

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.