Pacific Wealth Management Buys 3,331 Shares of SPDR Gold Shares $GLD

Pacific Wealth Management bought a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 3,331 shares of the exchange traded fund’s stock, valued at approximately $1,269,000. SPDR Gold Shares accounts for about 1.0% of Pacific Wealth Management’s investment portfolio, making the stock its 11th biggest position.

A number of other hedge funds have also recently made changes to their positions in GLD. Corient Private Wealth LLC lifted its holdings in SPDR Gold Shares by 571.3% during the 4th quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock valued at $1,565,118,000 after buying an additional 3,360,966 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of SPDR Gold Shares during the fourth quarter worth approximately $474,952,000. Marino Management LLC purchased a new position in shares of SPDR Gold Shares during the fourth quarter worth approximately $438,475,000. Diamant Asset Management Inc. increased its position in shares of SPDR Gold Shares by 42,929.0% during the first quarter. Diamant Asset Management Inc. now owns 697,070 shares of the exchange traded fund’s stock worth $299,942,000 after acquiring an additional 695,450 shares during the period. Finally, Bank of Korea bought a new stake in shares of SPDR Gold Shares during the second quarter valued at approximately $250,411,831. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Soft U.S. payrolls and a weaker-than-expected personal-consumption expenditures reading reduced expectations for near-term Fed tightening, supporting gold and GLD. Weak NFP Lifts Gold Forecast Gold Rises as Softer Inflation Tempers Rate Hike Bets
• Positive Sentiment: Precious-metals analysts said persistent inflation, heavy sovereign debt and declining confidence in fiat currencies are strengthening gold’s role as a store of value. Gold and the Debasement Trade
• Positive Sentiment: Bundesbank President Joachim Nagel said geopolitical risks, sanctions concerns and rising debt could encourage central banks to continue diversifying reserves into gold, a supportive longer-term demand trend for GLD. Central Banks and Gold Reserves
• Neutral Sentiment: The ISM Services PMI eased to 54.9 from 55.4, slightly below expectations. The softer activity reduced rate-hike expectations, but gold remained largely range-bound as investors assessed the mixed economic signal. Gold After ISM Services PMI
• Negative Sentiment: Long-dated Treasury yields near multi-decade highs and yields around 5.3% increase the opportunity cost of holding non-yielding gold, while a dollar near yearly highs capped gold’s recovery. Bond Yields Compete With Gold Gold Retreats as Dollar Tests Yearly Highs

SPDR Gold Shares Trading Down 0.2%

Shares of NYSEARCA GLD traded down $0.59 during trading hours on Monday, reaching $379.55. The stock had a trading volume of 4,240,466 shares, compared to its average volume of 11,761,888. The firm has a market cap of $140.47 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18. The business’s fifty day moving average price is $396.99 and its two-hundred day moving average price is $403.39. SPDR Gold Shares has a 52-week low of $360.12 and a 52-week high of $509.70.

SPDR Gold Shares Company 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.