1,908 SPDR Gold Shares $GLD Shares Bought by IronBridge Private Wealth LLC

IronBridge Private Wealth LLC grew its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 8.2% in the third quarter, HoldingsChannel reports. The fund owned 25,152 shares of the exchange traded fund’s stock after buying an additional 1,908 shares during the period. SPDR Gold Shares accounts for 2.8% of IronBridge Private Wealth LLC’s portfolio, making the stock its 8th largest position. IronBridge Private Wealth LLC’s holdings in SPDR Gold Shares were worth $9,579,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of GLD. First Eagle Investment Management LLC boosted its position in SPDR Gold Shares by 1.5% in the second quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock valued at $917,864,000 after buying an additional 35,882 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in shares of SPDR Gold Shares by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,169,683 shares of the exchange traded fund’s stock valued at $430,888,000 after purchasing an additional 5,793 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of SPDR Gold Shares by 1.8% during the first quarter. PNC Financial Services Group Inc. now owns 707,998 shares of the exchange traded fund’s stock valued at $304,644,000 after purchasing an additional 12,415 shares in the last quarter. PPSC Investment Service Corp boosted its stake in shares of SPDR Gold Shares by 2.2% during the third quarter. PPSC Investment Service Corp now owns 789,050 shares of the exchange traded fund’s stock valued at $300,502,000 after purchasing an additional 16,678 shares in the last quarter. Finally, Bank of Korea bought a new stake in shares of SPDR Gold Shares during the second quarter worth about $250,411,831. 42.19% of the stock is currently owned by institutional investors and hedge funds.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: One analyst says proposed Democratic spending could weaken the U.S. dollar and provide a longer-term floor for gold. Midterm-related buying had also helped gold return above $4,000 an ounce. Article: Dems’ spending plans could weaken the dollar and support gold
• Neutral Sentiment: Election results may have reduced some uncertainty, but traders still see the Federal Reserve and the President as key influences on the dollar and gold. Markets are awaiting the Fed’s December decision. Article: Gold and the dollar remain dependent on Trump and the Fed
• Negative Sentiment: October payrolls rose by 165,000, stronger than expected, lifting the dollar and real yields and increasing expectations of a possible December Fed rate hike. That pressured gold and threatens its $4,000-an-ounce support; a sustained break could deepen bullion’s pullback, weighing on GLD. Article: Gold faces risk to $4,000 support after strong payrolls

SPDR Gold Shares Stock Performance

NYSEARCA:GLD opened at $372.52 on Monday. The stock’s 50-day moving average is $384.96 and its 200-day moving average is $411.53. SPDR Gold Shares has a 1-year low of $354.67 and a 1-year high of $509.70. The stock has a market cap of $135.93 billion, a P/E ratio of -32.43 and a beta of 0.20.

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.