Montag A & Associates Inc. Has $6.38 Million Holdings in SPDR Gold Shares $GLD

Montag A & Associates Inc. lessened its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 14.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 17,332 shares of the exchange traded fund’s stock after selling 2,942 shares during the quarter. Montag A & Associates Inc.’s holdings in SPDR Gold Shares were worth $6,385,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Marin Bay Wealth Advisors LLC lifted its stake in shares of SPDR Gold Shares by 0.5% in the 2nd quarter. Marin Bay Wealth Advisors LLC now owns 16,634 shares of the exchange traded fund’s stock valued at $6,128,000 after purchasing an additional 90 shares during the last quarter. USA Financial Formulas increased its position in SPDR Gold Shares by 2,214.1% during the first quarter. USA Financial Formulas now owns 1,805 shares of the exchange traded fund’s stock worth $777,000 after buying an additional 1,727 shares during the last quarter. Midwest Trust Co increased its position in SPDR Gold Shares by 0.5% during the second quarter. Midwest Trust Co now owns 22,730 shares of the exchange traded fund’s stock worth $8,373,000 after buying an additional 119 shares during the last quarter. LFG Wealth Partners LLC raised its holdings in SPDR Gold Shares by 5.0% during the second quarter. LFG Wealth Partners LLC now owns 593 shares of the exchange traded fund’s stock valued at $218,000 after buying an additional 28 shares in the last quarter. Finally, Amitell Capital Pte Ltd bought a new position in SPDR Gold Shares during the second quarter valued at about $607,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Price Performance

Shares of NYSEARCA:GLD opened at $423.36 on Friday. The stock has a market capitalization of $149.49 billion, a P/E ratio of -32.43 and a beta of 0.17. The business has a 50-day moving average of $382.88 and a two-hundred day moving average of $417.49. SPDR Gold Shares has a fifty-two week low of $306.43 and a fifty-two week high of $509.70.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold climbed back above $4,600 per ounce after the Treasury expanded long-duration bond buybacks. Investors interpreted the move as an effort to contain borrowing costs, pressuring the dollar and supporting non-yielding assets such as gold. Gold Above $4,600 on Weaker Dollar, Debt Fears
• Positive Sentiment: Gold is heading toward a weekly gain of roughly 5%, aided by bond-market jitters, fiscal concerns and dollar weakness. Technical momentum also improved as bullion moved above its 200-day moving average and key resistance levels. Gold rebounds as bond jitters, debt fears and weaker dollar revive bullion demand
• Positive Sentiment: Ray Dalio recommended reducing bond exposure and increasing allocations to gold and Bitcoin, arguing that recent Treasury actions indicate a debt crisis may be approaching. The comments reinforce the safe-haven investment case for GLD. Ray Dalio recommends gold and bitcoin
• Positive Sentiment: Unusually heavy bullish options activity signals increased speculative interest in GLD, with call-option volume about 76% above its average. Traders purchase GLD call options
• Neutral Sentiment: Next week’s July PCE inflation report and Federal Reserve Chair Kevin Warsh’s Jackson Hole speech could drive volatility by changing expectations for interest rates and the dollar. Gold looks to PCE inflation and Jackson Hole
• Negative Sentiment: Stronger-than-expected U.S. economic data, including an August composite PMI of 56.0, could support the dollar and reduce expectations for Federal Reserve easing, creating a potential short-term headwind for gold and GLD. Spot gold holds above $4,585

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.