Pinnacle Associates Ltd. Purchases 2,641 Shares of SPDR Gold Shares $GLD

Pinnacle Associates Ltd. raised its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 20.8% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 15,315 shares of the exchange traded fund’s stock after purchasing an additional 2,641 shares during the quarter. Pinnacle Associates Ltd.’s holdings in SPDR Gold Shares were worth $6,069,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Prepared Retirement Institute LLC grew its stake in shares of SPDR Gold Shares by 1.6% during the 4th quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock valued at $526,000 after purchasing an additional 21 shares during the period. True Vision MN LLC grew its stake in shares of SPDR Gold Shares by 3.2% during the 4th quarter. True Vision MN LLC now owns 768 shares of the exchange traded fund’s stock valued at $304,000 after purchasing an additional 24 shares during the period. Burns J W & Co. Inc. NY grew its stake in shares of SPDR Gold Shares by 0.7% during the 4th quarter. Burns J W & Co. Inc. NY now owns 3,500 shares of the exchange traded fund’s stock valued at $1,387,000 after purchasing an additional 25 shares during the period. PFS Partners LLC grew its stake in shares of SPDR Gold Shares by 2.4% during the 4th quarter. PFS Partners LLC now owns 1,078 shares of the exchange traded fund’s stock valued at $427,000 after purchasing an additional 25 shares during the period. Finally, Steigerwald Gordon & Koch Inc. lifted its position in shares of SPDR Gold Shares by 28.7% during the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 112 shares of the exchange traded fund’s stock valued at $44,000 after buying an additional 25 shares in the last quarter. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Stock Down 2.3%

GLD stock opened at $417.29 on Friday. SPDR Gold Shares has a twelve month low of $291.78 and a twelve month high of $509.70. The stock has a market cap of $151.77 billion, a P/E ratio of -32.43 and a beta of 0.15. The business’s 50-day moving average price is $435.54 and its 200-day moving average price is $422.92.

SPDR Gold Shares News Summary

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

• Negative Sentiment: Gold fell further late Friday as the dollar and Treasury yields strengthened, with traders focused on whether the metal can hold the key $4,500 support zone. Silver dives below $76, gold tests $4,500 support as Iran risk drives oil, rate fears – Kitco PM Report
• Negative Sentiment: Technical commentary pointed to a bearish breakdown in gold, raising the risk of a deeper pullback toward major support levels. Gold (XAU/USD) Price Forecast: Bearish Breakdown Targets Major Support
• Negative Sentiment: Market reports said gold broke below $4,600 as rising yields and dollar strength outweighed traditional safe-haven demand. Gold breaks below $4,600 as dollar, yields overpower haven demand – Kitco AM Report
• Negative Sentiment: Additional commentary highlighted that hotter inflation data and a rally in the dollar have weakened bullish momentum in gold. Update: Gold Falls as the USD and Treasury Yields Surge on Inflation Worries
• Neutral Sentiment: Some analysts still noted strong long-term demand from central banks and continued interest in gold ETFs, which could help limit downside over time. Central Banks Are Snapping Up Gold, ETF Investors Are Just Waking Up: The Best Gold ETFs to Own Before It Hits $5,000

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.