Fortis Advisors LLC Has $917,000 Stock Holdings in SPDR Gold Shares $GLD

Fortis Advisors LLC decreased its stake in SPDR Gold Shares (NYSEARCA:GLD) by 51.2% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,313 shares of the exchange traded fund’s stock after selling 2,431 shares during the period. Fortis Advisors LLC’s holdings in SPDR Gold Shares were worth $917,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. WPG Advisers LLC acquired a new stake in shares of SPDR Gold Shares in the fourth quarter valued at about $25,000. Chapman Financial Group LLC acquired a new stake in shares of SPDR Gold Shares in the second quarter valued at about $26,000. Hopwood Financial Services Inc. acquired a new stake in shares of SPDR Gold Shares in the third quarter valued at about $27,000. Vestwell Advisors LLC acquired a new stake in shares of SPDR Gold Shares in the third quarter valued at about $27,000. Finally, Eukles Asset Management acquired a new stake in SPDR Gold Shares during the fourth quarter worth approximately $27,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

Key Headlines 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 Price Performance

NYSEARCA GLD opened at $417.12 on Friday. The business has a 50 day simple moving average of $425.25 and a 200 day simple moving average of $426.28. SPDR Gold Shares has a one year low of $299.89 and a one year high of $509.70. The stock has a market capitalization of $151.71 billion, a P/E ratio of -32.43 and a beta of 0.15.

About SPDR Gold Shares

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.