Allen Investment Management LLC Purchases 33,431 Shares of SPDR Gold Shares $GLD

Allen Investment Management LLC increased its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 7.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 479,794 shares of the exchange traded fund’s stock after purchasing an additional 33,431 shares during the quarter. SPDR Gold Shares accounts for 2.1% of Allen Investment Management LLC’s holdings, making the stock its 14th biggest holding. Allen Investment Management LLC owned approximately 0.13% of SPDR Gold Shares worth $190,147,000 as of its most recent filing with the SEC.

Other large investors have also recently modified their holdings of the company. Brighton Jones LLC boosted its holdings in 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 acquiring an additional 1,903 shares during the period. Bison Wealth LLC lifted its holdings in shares of SPDR Gold Shares by 77.8% in the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock worth $1,438,000 after buying an additional 2,600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in shares of SPDR Gold Shares in the 1st quarter worth $16,014,000. Schnieders Capital Management LLC. lifted its holdings in shares of SPDR Gold Shares by 4.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock worth $1,829,000 after buying an additional 275 shares during the period. Finally, Prudential Financial Inc. purchased a new stake in shares of SPDR Gold Shares in the 2nd quarter worth $337,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD opened at $411.26 on Tuesday. The stock has a market capitalization of $149.58 billion, a P/E ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 1-year low of $299.89 and a 1-year high of $509.70. The business has a fifty day moving average price of $424.95 and a 200 day moving average price of $426.83.

Key SPDR Gold Shares News

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

• Negative Sentiment: Gold fell from a two-week high as the dollar strengthened and oil prices jumped amid fresh U.S.-Iran strikes, creating a headwind for the metal and for SPDR Gold Shares (GLD). Update: Gold Falls Off a Two-Week High as Oil Rises as the U.S. and Iran Trade Strikes
• Negative Sentiment: Spot gold was lower as crude oil climbed, Treasury yields firmed, and U.S.-Iran negotiations remained unresolved, reinforcing a risk-off but dollar-supportive backdrop that can pressure GLD. Gold falls as oil jumps on U.S.-Iran deadlock – Kitco PM Report
• Negative Sentiment: Better-than-expected U.S. manufacturing data pushed gold lower by supporting Treasury yields and reducing expectations for near-term Fed rate cuts. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
• Negative Sentiment: Several market commentary pieces also pointed to a stronger dollar, higher oil, and easing rate-cut bets as reasons gold retreated, which is weighing on GLD sentiment. Gold News: Rising Oil Prices Darken Gold Price Future Before Payrolls

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.