Summit Wealth Group LLC Co. Purchases 10,650 Shares of SPDR Gold Shares $GLD

Summit Wealth Group LLC Co. boosted its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 1,954.1% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,195 shares of the exchange traded fund’s stock after acquiring an additional 10,650 shares during the quarter. Summit Wealth Group LLC Co.’s holdings in SPDR Gold Shares were worth $4,264,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Certified Advisory Corp boosted its position in shares of SPDR Gold Shares by 6.0% during the third quarter. Certified Advisory Corp now owns 14,012 shares of the exchange traded fund’s stock valued at $5,336,000 after buying an additional 794 shares during the last quarter. Capital CS Group LLC increased its holdings in SPDR Gold Shares by 149.2% in the 3rd quarter. Capital CS Group LLC now owns 1,787 shares of the exchange traded fund’s stock worth $680,000 after buying an additional 1,070 shares in the last quarter. Independence Wealth Advisors LLC increased its holdings in SPDR Gold Shares by 48.1% in the 3rd quarter. Independence Wealth Advisors LLC now owns 12,773 shares of the exchange traded fund’s stock worth $4,864,000 after buying an additional 4,149 shares in the last quarter. Artesa Financial Group LLC raised its position in SPDR Gold Shares by 1.8% in the 3rd quarter. Artesa Financial Group LLC now owns 10,044 shares of the exchange traded fund’s stock worth $3,825,000 after buying an additional 174 shares during the last quarter. Finally, Vigilare Wealth Management raised its position in SPDR Gold Shares by 8.2% in the 3rd quarter. Vigilare Wealth Management now owns 8,888 shares of the exchange traded fund’s stock worth $3,385,000 after buying an additional 670 shares during the last quarter. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

GLD opened at $361.65 on Tuesday. The stock has a market capitalization of $132.33 billion, a P/E ratio of -32.43 and a beta of 0.18. The company’s 50-day simple moving average is $389.34 and its two-hundred 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.

SPDR Gold Shares News Summary

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

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.