Tucker Asset Management LLC Makes New Investment in SPDR Gold Shares $GLD

Tucker Asset Management LLC purchased a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) in the second quarter, HoldingsChannel reports. The institutional investor purchased 2,344 shares of the exchange traded fund’s stock, valued at approximately $863,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Timmons Wealth Management LLC bought a new position in shares of SPDR Gold Shares in the 4th quarter worth approximately $26,000. Eukles Asset Management bought a new stake in SPDR Gold Shares during the fourth quarter valued at approximately $27,000. Private Wealth Management Group LLC purchased a new stake in SPDR Gold Shares during the first quarter valued at approximately $30,000. Parvin Asset Management LLC purchased a new stake in SPDR Gold Shares during the first quarter valued at approximately $31,000. Finally, Longview Financial Advisors Inc. bought a new position in SPDR Gold Shares in the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold recovered from its initial selloff, suggesting continued buying interest despite the stronger jobs report. Investors remain focused on inflation, fiscal risks and central-bank demand as longer-term supports for gold and GLD. Gold claws back from brutal jobs selloff as markets brace for key inflation data
• Positive Sentiment: Invesco said rising government debt and a global bond-market selloff are encouraging investors to treat gold as a strategic portfolio allocation rather than merely a short-term trade. That supports sustained demand for a physically backed ETF such as GLD. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Gold’s recent rally has been attributed primarily to investment flows, while July central-bank purchases totaled 23 metric tons, led by China and Poland. Continued official-sector and investment demand provide fundamental support for GLD. Central banks add 23 net tonnes of gold in July
• Neutral Sentiment: The Netherlands’ transfer of roughly 86 tons of gold from New York and Ottawa to London, citing geopolitical risk and crisis preparedness, highlights persistent official concern about reserve security but does not directly change GLD’s holdings. Dutch central bank moves gold bars out of U.S. and Canada
• Negative Sentiment: The U.S. economy created 162,000 jobs in August, exceeding expectations. The stronger labor market lifted yields and reduced expectations for near-term monetary easing, pressuring gold and GLD. Gold price hit with major selling as U.S. economy creates 162K jobs
• Negative Sentiment: Technical analysts warned that higher rates could keep gold testing its 50-day moving average. Additional evidence of persistent economic strength or elevated inflation could extend short-term pressure on GLD. Gold tests 50-day EMA as strong U.S. jobs data lifts rates

SPDR Gold Shares Price Performance

Shares of SPDR Gold Shares stock opened at $406.77 on Monday. The company’s fifty day simple moving average is $388.97 and its 200-day simple moving average is $414.27. The stock has a market capitalization of $143.63 billion, a PE ratio of -32.43 and a beta of 0.19. SPDR Gold Shares has a 1-year low of $326.19 and a 1-year 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.