Clarity Retirement & Wealth LLC Invests $3.57 Million in SPDR Gold Shares $GLD

Clarity Retirement & Wealth LLC bought a new position in SPDR Gold Shares (NYSEARCA:GLD) during the 2nd quarter, HoldingsChannel reports. The fund bought 9,683 shares of the exchange traded fund’s stock, valued at approximately $3,567,000. SPDR Gold Shares makes up 2.5% of Clarity Retirement & Wealth LLC’s investment portfolio, making the stock its 7th largest position.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of SPDR Gold Shares by 20.4% during the fourth quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock valued at $2,723,000 after acquiring an additional 1,903 shares during the last quarter. Bison Wealth LLC grew its stake in shares of SPDR Gold Shares by 77.8% in the fourth quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock worth $1,438,000 after purchasing an additional 2,600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of SPDR Gold Shares in the first quarter worth about $16,014,000. Schnieders Capital Management LLC. increased its holdings in SPDR Gold Shares by 4.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock valued at $1,829,000 after purchasing an additional 275 shares during the period. Finally, Prudential Financial Inc. purchased a new position in SPDR Gold Shares during the 2nd quarter valued at about $337,000. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Price Performance

GLD opened at $405.49 on Tuesday. The business has a 50 day simple moving average of $380.62 and a two-hundred day simple moving average of $418.91. The firm has a market capitalization of $143.18 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a one year low of $305.19 and a one year high of $509.70.

More SPDR Gold Shares News

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

• Positive Sentiment: Easier Fed expectations support gold: Softer U.S. economic data, including weak retail sales and labor indicators, has reduced the likelihood of further rate hikes. Lower expected interest rates, a weaker dollar and falling bond yields generally improve gold’s appeal because the metal does not pay interest. Gold, silver rise as softer data cuts Fed-hike odds
• Positive Sentiment: Broader structural demand remains bullish: Analysts cited central-bank purchases, investment inflows, Chinese demand, U.S. fiscal stress and constrained global resource supply as long-term support for gold and other hard assets. Morgan Stanley’s Mike Wilson also characterized gold as being in a roughly 25-year bull market, particularly as traditional stock-and-bond portfolios face greater uncertainty. The Hard-Asset Trade Is Accelerating
• Positive Sentiment: Gold is outperforming equities: Gold’s rebound from its June low and its stronger performance relative to stocks are encouraging investors to increase precious-metals exposure, which directly benefits GLD as an ETF backed by physical gold. How Gold Beats Stocks This Year
• Neutral Sentiment: Economic data created some volatility: The New York Empire State manufacturing index unexpectedly rose to 20.6, its strongest reading in more than four years. The stronger data briefly pressured gold by reducing expectations for monetary easing, although the broader decline in rate-hike bets kept prices supported. Spot gold trades below $4,380 after manufacturing index surprises
• Negative Sentiment: Some offsets remain: Rising silver production and reduced optimism surrounding a potential Iran deal could limit near-term precious-metals momentum, while stronger economic data may revive concerns about higher-for-longer interest rates. U.S. data supports gold prices despite Iran pessimism

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.