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

Consolidated Capital Management LLC cut its position in SPDR Gold Shares (NYSEARCA:GLD) by 37.1% during the fourth quarter, Holdings Channel reports. The firm owned 40,496 shares of the exchange traded fund’s stock after selling 23,915 shares during the period. SPDR Gold Shares makes up approximately 4.9% of Consolidated Capital Management LLC’s portfolio, making the stock its 2nd largest position. Consolidated Capital Management LLC’s holdings in SPDR Gold Shares were worth $16,049,000 at the end of the most recent quarter.

A number of other hedge funds have also modified their holdings of the company. Prepared Retirement Institute LLC boosted its stake in shares of SPDR Gold Shares by 1.6% in the fourth quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock worth $526,000 after buying an additional 21 shares during the last quarter. True Vision MN LLC boosted its stake in shares of SPDR Gold Shares by 3.2% in the fourth quarter. True Vision MN LLC now owns 768 shares of the exchange traded fund’s stock worth $304,000 after buying an additional 24 shares during the last quarter. Burns J W & Co. Inc. NY boosted its stake in shares of SPDR Gold Shares by 0.7% in the fourth quarter. Burns J W & Co. Inc. NY now owns 3,500 shares of the exchange traded fund’s stock worth $1,387,000 after buying an additional 25 shares during the last quarter. PFS Partners LLC boosted its stake in shares of SPDR Gold Shares by 2.4% in the fourth quarter. PFS Partners LLC now owns 1,078 shares of the exchange traded fund’s stock worth $427,000 after buying an additional 25 shares during the last quarter. Finally, Steigerwald Gordon & Koch Inc. boosted its stake in shares of SPDR Gold Shares by 28.7% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 112 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 25 shares during the last quarter. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Up 1.1%

Shares of GLD opened at $417.12 on Friday. SPDR Gold Shares has a 52 week low of $299.89 and a 52 week high of $509.70. The company has a market capitalization of $151.71 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. The stock’s 50-day moving average price is $425.25 and its 200-day moving average price is $426.28.

Key Stories Impacting SPDR Gold Shares

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.