SPDR Gold Shares $GLD Stock Position Lowered by Trek Financial LLC

Trek Financial LLC cut its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 19.6% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,592 shares of the exchange traded fund’s stock after selling 1,606 shares during the quarter. Trek Financial LLC’s holdings in SPDR Gold Shares were worth $2,511,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Livelsberger Financial Advisory purchased a new stake in SPDR Gold Shares in the 3rd quarter worth $30,000. Parvin Asset Management LLC acquired a new position in SPDR Gold Shares during the first quarter worth $31,000. NBH Bank acquired a new position in SPDR Gold Shares during the second quarter worth $41,000. Trust Co. of Vermont purchased a new position in SPDR Gold Shares during the second quarter valued at $43,000. Finally, IMG Wealth Management Inc. lifted its holdings in SPDR Gold Shares by 440.9% during the third quarter. IMG Wealth Management Inc. now owns 119 shares of the exchange traded fund’s stock valued at $45,000 after purchasing an additional 97 shares in the last quarter. 42.19% of the stock is owned by institutional investors and hedge funds.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold rebounded more than 2% as plunging oil prices reduced inflation concerns and weakened expectations for additional Federal Reserve rate hikes. Lower rates and yields generally support gold and GLD. Gold News: XAUUSD Rebounds as Oil Plunge Pressures Fed Hike Expectations
• Positive Sentiment: Bargain hunters returned after gold suffered its worst October since 2008, helping the metal test resistance near $3,978. Improved investor sentiment also supported early Asian trading. Gold and Silver Price Forecast
• Neutral Sentiment: Lower real yields provided some support, but investors are awaiting key U.S. employment data for clues about the Federal Reserve’s rate path. Gold: Lower Real Yields Offer Support Before the Employment Test
• Neutral Sentiment: GLD’s October short-interest report may influence trading sentiment, although the supplied report does not provide specific changes in short positions. SPDR Gold Shares Stock Short Interest Report
• Negative Sentiment: Expectations for tighter U.S. monetary policy remain a headwind for gold, which was still below the psychologically important $4,000 level. Gold Rises, But Expectations of Tighter U.S. Monetary Policy Weigh
• Negative Sentiment: A valuation analysis argues that gold remains about 22% overvalued despite falling 31% from its peak, suggesting further downside risk if momentum stays negative. Gold Price Outlook
• Negative Sentiment: GLD experienced a $1.8 billion outflow in October, its weakest monthly flow since June, indicating reduced investor demand for the fund. GLD Suffers $1.8 Billion October Outflow

SPDR Gold Shares Stock Up 1.6%

Shares of NYSEARCA GLD opened at $361.65 on Tuesday. The company’s 50-day simple moving average is $389.34 and its 200-day simple moving average is $412.67. SPDR Gold Shares has a 52-week low of $354.67 and a 52-week high of $509.70. The firm has a market cap of $132.33 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18.

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.