Succession Financial Inc. Acquires Shares of 14,534 SPDR Gold Shares $GLD

Succession Financial Inc. acquired a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 14,534 shares of the exchange traded fund’s stock, valued at approximately $5,354,000. SPDR Gold Shares makes up about 5.1% of Succession Financial Inc.’s portfolio, making the stock its 4th largest holding.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hughes Financial Services LLC lifted its position in SPDR Gold Shares by 3.4% in the 4th quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock valued at $264,000 after acquiring an additional 22 shares in the last quarter. Parr Mcknight Wealth Management Group LLC increased its holdings in SPDR Gold Shares by 3.3% during the 4th quarter. Parr Mcknight Wealth Management Group LLC now owns 772 shares of the exchange traded fund’s stock worth $306,000 after purchasing an additional 25 shares in the last quarter. Viewpoint Capital Management LLC increased its holdings in SPDR Gold Shares by 2.8% during the 1st quarter. Viewpoint Capital Management LLC now owns 925 shares of the exchange traded fund’s stock worth $398,000 after purchasing an additional 25 shares in the last quarter. Summer Road LLC raised its stake in shares of SPDR Gold Shares by 11.1% in the first quarter. Summer Road LLC now owns 250 shares of the exchange traded fund’s stock worth $108,000 after purchasing an additional 25 shares during the last quarter. Finally, SFE Investment Counsel raised its stake in shares of SPDR Gold Shares by 4.5% in the first quarter. SFE Investment Counsel now owns 585 shares of the exchange traded fund’s stock worth $252,000 after purchasing an additional 25 shares during the last quarter. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares Stock Down 0.8%

GLD stock opened at $406.77 on Friday. SPDR Gold Shares has a twelve month low of $326.19 and a twelve month high of $509.70. The stock’s 50 day moving average is $388.97 and its 200-day moving average is $414.61. The firm has a market capitalization of $143.63 billion, a PE ratio of -32.43 and a beta of 0.19.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold recovered from its initial selloff, suggesting continued buying interest despite the stronger jobs report. Investors remain focused on inflation, fiscal risks and central-bank demand as longer-term supports for gold and GLD. Gold claws back from brutal jobs selloff as markets brace for key inflation data
• Positive Sentiment: Invesco said rising government debt and a global bond-market selloff are encouraging investors to treat gold as a strategic portfolio allocation rather than merely a short-term trade. That supports sustained demand for a physically backed ETF such as GLD. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Gold’s recent rally has been attributed primarily to investment flows, while July central-bank purchases totaled 23 metric tons, led by China and Poland. Continued official-sector and investment demand provide fundamental support for GLD. Central banks add 23 net tonnes of gold in July
• Neutral Sentiment: The Netherlands’ transfer of roughly 86 tons of gold from New York and Ottawa to London, citing geopolitical risk and crisis preparedness, highlights persistent official concern about reserve security but does not directly change GLD’s holdings. Dutch central bank moves gold bars out of U.S. and Canada
• Negative Sentiment: The U.S. economy created 162,000 jobs in August, exceeding expectations. The stronger labor market lifted yields and reduced expectations for near-term monetary easing, pressuring gold and GLD. Gold price hit with major selling as U.S. economy creates 162K jobs
• Negative Sentiment: Technical analysts warned that higher rates could keep gold testing its 50-day moving average. Additional evidence of persistent economic strength or elevated inflation could extend short-term pressure on GLD. Gold tests 50-day EMA as strong U.S. jobs data lifts rates

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.