MLP3 LLC Buys New Stake in SPDR Gold Shares $GLD

MLP3 LLC bought a new stake in SPDR Gold Shares (NYSEARCA:GLD) during the fourth quarter, according to its most recent disclosure with the SEC. The firm bought 1,585 shares of the exchange traded fund’s stock, valued at approximately $628,000.

A number of other hedge funds have also recently modified their holdings of the stock. Marino Management LLC purchased a new position in shares of SPDR Gold Shares in the 4th quarter valued at $438,475,000. Marnell Management LLC purchased a new position in shares of SPDR Gold Shares in the 4th quarter valued at $2,655,000. Motiv8 Investments LLC purchased a new position in shares of SPDR Gold Shares in the 4th quarter valued at $110,000. Financial Network Wealth Advisors LLC grew its position in shares of SPDR Gold Shares by 16.6% in the 4th quarter. Financial Network Wealth Advisors LLC now owns 722 shares of the exchange traded fund’s stock valued at $286,000 after buying an additional 103 shares during the last quarter. Finally, Focus Partners Wealth grew its position in shares of SPDR Gold Shares by 5.2% in the 4th quarter. Focus Partners Wealth now owns 458,947 shares of the exchange traded fund’s stock valued at $181,706,000 after buying an additional 22,487 shares during the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold is showing signs of a rebound after holding major support, suggesting buyers are stepping in after the recent selloff. Gold (XAU/USD) Price Forecast: Failed Breakdown Hints at Rebound
• Positive Sentiment: Safe-haven demand improved as Middle East tensions persisted and U.S.-Iran talk headlines supported a bid for precious metals. Gold and Silver Price Forecast: US-Iran Deal Hopes Lift XAUUSD and XAGUSD
• Positive Sentiment: Gold held key support around $4,000, and analysts said that level may act as a floor as investors cautiously return to the trade. Gold holds key $4,000 support as analysts watch for signs of a bottom
• Neutral Sentiment: The CME plans to offer 24/7 gold trading, which could improve access and liquidity but does not directly change fundamentals. CME to offer 24/7 gold and oil trading
• Neutral Sentiment: Gold remains caught between bargain-hunting support and macro pressure from higher-for-longer rate expectations and stronger U.S. inflation readings. Spot gold at $4,062/oz after U.S. May PPI rises 1.1%, core PPI up 0.4%
• Negative Sentiment: Several reports warn that gold remains under pressure from a stronger dollar, elevated yields, and fears the Fed may keep rates restrictive, which could limit any recovery in GLD. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor

SPDR Gold Shares Price Performance

NYSEARCA GLD opened at $386.54 on Monday. The firm’s fifty day moving average price is $421.49 and its 200 day moving average price is $428.01. The company has a market capitalization of $140.58 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a 12 month low of $299.89 and a 12 month high of $509.70.

SPDR Gold Shares 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.