SPDR Gold Shares $GLD Shares Sold by Strategic Wealth Investment Group LLC

Strategic Wealth Investment Group LLC cut its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 41.9% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 49,807 shares of the exchange traded fund’s stock after selling 35,986 shares during the quarter. SPDR Gold Shares accounts for 2.4% of Strategic Wealth Investment Group LLC’s portfolio, making the stock its 14th largest position. Strategic Wealth Investment Group LLC’s holdings in SPDR Gold Shares were worth $19,739,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. WPG Advisers LLC acquired a new position in shares of SPDR Gold Shares in the 4th quarter worth $25,000. Chapman Financial Group LLC acquired a new position in shares of SPDR Gold Shares in the 2nd quarter worth $26,000. Hopwood Financial Services Inc. acquired a new position in shares of SPDR Gold Shares in the 3rd quarter worth $27,000. Vestwell Advisors LLC acquired a new position in shares of SPDR Gold Shares in the 3rd quarter worth $27,000. Finally, Eukles Asset Management acquired a new position in shares of SPDR Gold Shares in the 4th quarter worth $27,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Down 3.7%

Shares of NYSEARCA GLD opened at $396.24 on Friday. The stock has a market capitalization of $144.11 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. The stock’s fifty day simple moving average is $424.74 and its 200 day simple moving average is $427.22. SPDR Gold Shares has a 52-week low of $299.89 and a 52-week high of $509.70.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Some analysts still view the pullback as a buying opportunity, arguing that long-term inflation concerns and strategic demand for gold could support a rebound. Gold breaks below key technical support, but analysts see a buying opportunity
• Neutral Sentiment: There are still longer-term bullish arguments for gold, including deglobalization, central bank buying, and forecasts calling for higher average gold prices later this year. Deglobalization sparks race for strategic resources, driving gold and copper outlook – Sohn Montreal
• Negative Sentiment: Stronger U.S. employment data pushed yields and the dollar higher, fueling a broad selloff in gold and other precious metals. Gold Falls as the Dollar and Yields Rise After an Unexpected Surge in May U.S. Employment
• Negative Sentiment: Gold slipped below major support levels as traders bet the Federal Reserve may remain hawkish for longer, extending the technical downtrend. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Dives 3% As Traders Bet On Hawkish Fed
• Negative Sentiment: Multiple market updates pointed to additional selling pressure after nonfarm payrolls came in much stronger than expected, reinforcing higher-rate expectations. Gold price see solid selling pressure as U.S. economy created 172k jobs in May

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.