Cauble & Harre Wealth Management Inc. acquired a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 3,085 shares of the exchange traded fund’s stock, valued at approximately $1,223,000. SPDR Gold Shares accounts for approximately 1.0% of Cauble & Harre Wealth Management Inc.’s portfolio, making the stock its 24th biggest position.
A number of other hedge funds also recently made changes to their positions in the stock. First Eagle Investment Management LLC boosted its holdings in SPDR Gold Shares by 2.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,531,196 shares of the exchange traded fund’s stock worth $899,764,000 after buying an additional 66,416 shares during the period. Bank of Montreal Can bought a new position in SPDR Gold Shares in the 3rd quarter worth $556,282,000. Ameriprise Financial Inc. boosted its holdings in SPDR Gold Shares by 3.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,555,831 shares of the exchange traded fund’s stock worth $554,139,000 after buying an additional 50,756 shares during the period. Envestnet Asset Management Inc. boosted its holdings in SPDR Gold Shares by 3.0% in the 3rd quarter. Envestnet Asset Management Inc. now owns 1,222,891 shares of the exchange traded fund’s stock worth $434,701,000 after buying an additional 35,619 shares during the period. Finally, Barclays PLC boosted its holdings in SPDR Gold Shares by 1.4% in the 3rd quarter. Barclays PLC now owns 1,125,376 shares of the exchange traded fund’s stock worth $400,037,000 after buying an additional 15,932 shares during the period. 42.19% of the stock is currently owned by institutional investors.
SPDR Gold Shares Stock Performance
Shares of SPDR Gold Shares stock opened at $417.29 on Friday. The company has a market capitalization of $151.77 billion, a P/E ratio of -32.43 and a beta of 0.15. The company has a fifty day moving average of $435.54 and a 200 day moving average of $422.92. SPDR Gold Shares has a fifty-two week low of $291.78 and a fifty-two week high of $509.70.
More SPDR Gold Shares News
- 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.
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