5,914 SPDR Gold Shares $GLD Shares Sold by WealthNavi Inc.

WealthNavi Inc. lowered its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 459,075 shares of the exchange traded fund’s stock after selling 5,914 shares during the quarter. SPDR Gold Shares makes up about 1.4% of WealthNavi Inc.’s investment portfolio, making the stock its 10th largest holding. WealthNavi Inc. owned approximately 0.12% of SPDR Gold Shares worth $174,834,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in GLD. Bank of Korea acquired a new position in SPDR Gold Shares during the 2nd quarter worth $250,411,831. CI Investments Inc. lifted its position in shares of SPDR Gold Shares by 96.7% during the first quarter. CI Investments Inc. now owns 282,364 shares of the exchange traded fund’s stock worth $121,498,000 after purchasing an additional 138,846 shares during the last quarter. Fifth Third Bancorp lifted its position in shares of SPDR Gold Shares by 83.0% during the first quarter. Fifth Third Bancorp now owns 298,497 shares of the exchange traded fund’s stock worth $128,440,000 after purchasing an additional 135,373 shares during the last quarter. Public Employees Retirement System of Ohio acquired a new position in SPDR Gold Shares in the first quarter worth about $46,816,000. Finally, Elevation Point Wealth Partners LLC raised its stake in SPDR Gold Shares by 54.1% during the first quarter. Elevation Point Wealth Partners LLC now owns 306,968 shares of the exchange traded fund’s stock valued at $132,085,000 after buying an additional 107,799 shares in the last quarter. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Up 1.2%

NYSEARCA:GLD opened at $372.28 on Wednesday. The business’s 50 day moving average is $393.17 and its two-hundred day moving average is $413.72. SPDR Gold Shares has a 52 week low of $360.12 and a 52 week high of $509.70. The company has a market cap of $138.08 billion, a PE ratio of -32.43 and a beta of 0.18.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold rebounded as declining oil prices reduced inflation fears and encouraged renewed buying in precious metals ahead of the Fed meeting. A dovish Fed signal could provide additional support for GLD. Gold climbs above $4,050 as Wall Street rallies ahead of Fed decision
• Positive Sentiment: Weak U.S. new-home sales are reinforcing safe-haven demand and raising concerns about economic growth, which may benefit gold and GLD. Gold prices holding above $4,000 as U.S. new home sales fall
• Positive Sentiment: State Street said gold could recover substantially, potentially reaching $5,500 by early next year, while recent declines have pushed the market toward oversold conditions. Downside risks are building in gold, but prices still have a path to $5,000
• Neutral Sentiment: Gold briefly benefited from stronger consumer confidence, which lifted prices toward the session high, but the data could also support higher interest rates and limit future gains. Gold price shoots to session high after Consumer Confidence rises
• Negative Sentiment: Analysts warn that gold must establish a floor near $4,000 or risk a deeper correction after its two-month decline. Persistent inflation and expectations for another Fed rate increase are weighing on the metal. Gold price needs to build a floor here or face a deeper correction
• Negative Sentiment: Short interest in GLD rose 71.8% during October to 15.4 million shares, signaling increased bearish positioning, although the 2.1-day days-to-cover ratio leaves some potential for short-covering if gold continues higher.

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.