7,500 Shares of SPDR Gold Shares $GLD Purchased by N10 Wealth LLC

N10 Wealth LLC purchased a new stake in SPDR Gold Shares (NYSEARCA:GLD) in the third quarter, HoldingsChannel reports. The firm purchased 7,500 shares of the exchange traded fund’s stock, valued at approximately $2,856,000. SPDR Gold Shares comprises about 0.8% of N10 Wealth LLC’s portfolio, making the stock its 29th largest position.

Other institutional investors and hedge funds also recently modified their holdings of the company. Viewpoint Capital Management LLC boosted its stake in SPDR Gold Shares by 2.8% during the 1st quarter. Viewpoint Capital Management LLC now owns 925 shares of the exchange traded fund’s stock worth $398,000 after acquiring an additional 25 shares during the last quarter. Summer Road LLC grew its holdings in SPDR Gold Shares by 11.1% during the first quarter. Summer Road LLC now owns 250 shares of the exchange traded fund’s stock valued at $108,000 after purchasing an additional 25 shares during the period. SFE Investment Counsel increased its stake in SPDR Gold Shares by 4.5% in the first quarter. SFE Investment Counsel now owns 585 shares of the exchange traded fund’s stock valued at $252,000 after purchasing an additional 25 shares in the last quarter. Evolution Wealth Management Inc. increased its stake in SPDR Gold Shares by 2.3% in the first quarter. Evolution Wealth Management Inc. now owns 1,200 shares of the exchange traded fund’s stock valued at $516,000 after purchasing an additional 27 shares in the last quarter. Finally, Financial Management Professionals Inc. increased its stake in SPDR Gold Shares by 0.6% in the second quarter. Financial Management Professionals Inc. now owns 4,414 shares of the exchange traded fund’s stock valued at $1,626,000 after purchasing an additional 27 shares in the last quarter. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares Price Performance

GLD traded down $7.03 during mid-day trading on Wednesday, hitting $374.64. The stock had a trading volume of 5,411,722 shares, compared to its average volume of 11,586,732. The stock’s fifty day simple moving average is $398.09 and its 200-day simple moving average is $401.25. The firm has a market capitalization of $138.32 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18. SPDR Gold Shares has a 1-year low of $360.12 and a 1-year high of $509.70.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Longer term, gold remains supported by strong ETF inflows, continued central-bank purchases and a bullish outlook from UBS, factors that could help bullion recover and support GLD. Here’s Why Gold ETFs Still Make Sense for Long-Term Investors
• Positive Sentiment: UBP strategist Peter Kinsella said gold may have absorbed much of the recent yield-related selling. Easing Fed-hike expectations, improving geopolitical conditions and a potential U.S. Treasury gold revaluation could provide fresh support later this year. U.S. Treasury’s gold revaluation could restart the debasement trade
• Neutral Sentiment: Before the inflation report, gold held near key technical levels as investors assessed the likely path of interest rates. A sustained move above resistance could improve the outlook, while a break below support would signal additional downside risk. Gold and Silver Price Forecast
• Negative Sentiment: September CPI accelerated more than expected, lifting Treasury yields and reviving the possibility of an October rate increase. Gold subsequently tested the $4,000–$4,200 demand zone, while analysts warned that a break of support could extend the decline. Gold Tests $4,200-$4,000 Demand Zone as CPI Revives Inflation Concerns
• Negative Sentiment: Kazakhstan plans to sell part of its exceptionally large gold reserves because elevated Treasury yields make dollar assets more attractive. The shift by a major central-bank buyer adds a potential source of selling pressure for bullion and GLD. Kazakhstan plans gold sales as holdings reach 78% of reserves

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.