4,096 SPDR Gold Shares $GLD Shares Purchased by Grove Bank & Trust

Grove Bank & Trust increased its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 15.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,267 shares of the exchange traded fund’s stock after purchasing an additional 4,096 shares during the quarter. SPDR Gold Shares makes up 1.1% of Grove Bank & Trust’s portfolio, making the stock its 25th biggest holding. Grove Bank & Trust’s holdings in SPDR Gold Shares were worth $11,527,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Private Wealth Management Group LLC bought a new position in SPDR Gold Shares in the 1st quarter worth approximately $30,000. Parvin Asset Management LLC purchased a new stake in SPDR Gold Shares during the 1st quarter valued at approximately $31,000. Longview Financial Advisors Inc. bought a new stake in shares of SPDR Gold Shares during the first quarter valued at approximately $35,000. NBH Bank bought a new stake in shares of SPDR Gold Shares during the second quarter valued at approximately $41,000. Finally, Trust Co. of Vermont purchased a new position in shares of SPDR Gold Shares in the second quarter worth $43,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold is attempting to recover as the U.S. dollar and Treasury yields pull back, improving the appeal of non-yielding bullion. A hold above the roughly $4,100–$4,103 support zone could encourage a double-bottom or bullish-wedge breakout. Gold attempts to rebound as Treasury yields pull back
• Positive Sentiment: Strategists at Sprott said gold’s resilience despite elevated bond yields, fresh ETF inflows, central-bank diversification away from dollar assets and persistent inflation support the longer-term bullish case. Gold gains ground as central banks retreat from dollar assets
• Positive Sentiment: China’s central bank added 21 tonnes of gold in September, its largest monthly purchase in three years and the 23rd consecutive month of buying, reinforcing official-sector demand for bullion and indirectly supporting GLD. China’s central bank buys 21 tonnes of gold
• Neutral Sentiment: Analysts view the recent decline as a potential long-term entry opportunity, citing central-bank purchases, diversification demand and possible future rate support, although near-term momentum remains uncertain. Gold ETF down 13% in six months
• Negative Sentiment: Fed minutes and stronger-than-expected jobless-claims data have kept the possibility of another rate hike alive. Higher yields and a stronger dollar raise the opportunity cost of holding gold and remain the main pressure on GLD. Fed minutes weigh on gold
• Negative Sentiment: Gold’s bearish trend remains intact while prices test major technical support. A sustained break below approximately $4,100 could trigger additional selling and weigh on GLD. Gold continues to face pressures

SPDR Gold Shares Trading Up 0.7%

Shares of NYSEARCA:GLD traded up $2.74 during midday trading on Thursday, reaching $378.62. 9,575,749 shares of the company were exchanged, compared to its average volume of 11,705,287. The business’s fifty day moving average is $397.47 and its two-hundred day moving average is $401.79. SPDR Gold Shares has a one year low of $360.12 and a one year high of $509.70. The stock has a market cap of $140.24 billion, a PE ratio of -32.43 and a beta of 0.18.

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.