Cascades Capital Asset Management LLC Acquires 1,459 Shares of SPDR Gold Shares $GLD

Cascades Capital Asset Management LLC raised its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 63.7% during the fourth quarter, Holdings Channel.com reports. The fund owned 3,749 shares of the exchange traded fund’s stock after buying an additional 1,459 shares during the period. Cascades Capital Asset Management LLC’s holdings in SPDR Gold Shares were worth $1,486,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of GLD. Brighton Jones LLC raised its holdings in SPDR Gold Shares by 20.4% during the fourth 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 grew its position in shares of SPDR Gold Shares by 77.8% during the fourth 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 purchased a new position in shares of SPDR Gold Shares during the first quarter valued at about $16,014,000. Schnieders Capital Management LLC. grew its position in shares of SPDR Gold Shares by 4.8% during the second 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. purchased a new position in shares of SPDR Gold Shares during the second quarter valued at about $337,000. 42.19% of the stock is owned by institutional investors.

Key Stories Impacting SPDR Gold Shares

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

• Negative Sentiment: Gold prices slipped after the latest U.S. CPI reading lifted rate-cut uncertainty, sending yields and the dollar higher and pressuring precious metals. Gold slips, silver firms as CPI lifts yields and dollar – Kitco PM Report
• Negative Sentiment: Multiple market updates said gold traded lower as the stronger U.S. dollar and rising yields followed the inflation report, reinforcing near-term headwinds for GLD. Update: Gold Trading Lower as the Dollar and Yields Rise as U.S. Inflation Surged Last Month
• Neutral Sentiment: Technically, gold is sitting near a major resistance zone, so traders are watching for either a breakout that could support GLD or a pullback if buying momentum fades. Gold (XAU/USD) Price Forecast: Resistance Zone Tests Market Direction
• Neutral Sentiment: Some analysts still see long-term upside for gold, but they also warned that near-term macro headwinds from hawkish Fed expectations could keep GLD volatile. Gold will navigate near-term headwinds to reach $5,000/oz by year-end – ING’s Manthey

SPDR Gold Shares Stock Down 0.4%

Shares of SPDR Gold Shares stock opened at $432.93 on Wednesday. The firm has a market cap of $157.46 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. The business has a 50-day moving average price of $438.64 and a 200-day moving average price of $422.25. SPDR Gold Shares has a twelve month low of $291.78 and a twelve month 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.