Sage Investment Advisers LLC Takes $3.59 Million Position in SPDR Gold Shares $GLD

Sage Investment Advisers LLC acquired a new stake in SPDR Gold Shares (NYSEARCA:GLD) in the 4th quarter, Holdings Channel.com reports. The institutional investor acquired 9,060 shares of the exchange traded fund’s stock, valued at approximately $3,591,000. SPDR Gold Shares comprises approximately 2.7% of Sage Investment Advisers LLC’s investment portfolio, making the stock its 12th biggest position.

Several other hedge funds also recently modified their holdings of the stock. Prepared Retirement Institute LLC grew its holdings in shares of SPDR Gold Shares by 1.6% in the 4th quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock valued at $526,000 after acquiring an additional 21 shares in the last quarter. True Vision MN LLC grew its holdings in shares of SPDR Gold Shares by 3.2% in the 4th quarter. True Vision MN LLC now owns 768 shares of the exchange traded fund’s stock valued at $304,000 after acquiring an additional 24 shares in the last quarter. Burns J W & Co. Inc. NY grew its holdings in shares of SPDR Gold Shares by 0.7% in 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 acquiring an additional 25 shares in the last quarter. PFS Partners LLC grew its holdings in shares of SPDR Gold Shares by 2.4% in the 4th quarter. PFS Partners LLC now owns 1,078 shares of the exchange traded fund’s stock valued at $427,000 after acquiring an additional 25 shares in the last quarter. Finally, Steigerwald Gordon & Koch Inc. grew its holdings in shares of SPDR Gold Shares by 28.7% in the 4th quarter. Steigerwald Gordon & Koch Inc. now owns 112 shares of the exchange traded fund’s stock valued at $44,000 after acquiring an additional 25 shares in the last quarter. Institutional investors own 42.19% of the company’s stock.

Key SPDR Gold Shares News

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

• Positive Sentiment: Gold prices bounced as traders looked for a bullish reversal near key technical support, with some analysts saying buyers are still defending the long-term trend. Gold (XAU/USD) Price Forecast: Falling Wedge Signals Bullish Reversal
• Positive Sentiment: Weaker U.S. growth data and softer labor readings have kept alive hopes that the Federal Reserve could cut rates later this year, which tends to be supportive for gold. Gold rebounds as weak GDP offsets Hormuz risk – Kitco PM Report
• Positive Sentiment: Gold also benefited from renewed buying on dips and lingering geopolitical uncertainty, including headlines tied to Iran and the Middle East. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Prices Jump Amid Iran Deal Hopes
• Neutral Sentiment: Investors are now watching U.S. manufacturing, jobs, and other macro data for clues on inflation and interest rates, which could drive gold and GLD next. Gold braces for labor market week as investors eye manufacturing, jobs data
• Negative Sentiment: Gold has also faced selling pressure as inflation worries, higher yields, and a firmer dollar pushed prices to a two-month low at points this week, limiting upside for GLD. Gold tumbles to two-month low as inflation hedge status fades

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD opened at $417.12 on Monday. The stock has a market capitalization of $151.71 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. The business has a 50-day moving average of $425.25 and a 200-day moving average of $426.61. SPDR Gold Shares has a fifty-two week low of $299.89 and a fifty-two 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.