SPDR Gold Shares $GLD Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp lowered its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 5.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 270,812 shares of the exchange traded fund’s stock after selling 15,478 shares during the quarter. Fifth Third Bancorp owned approximately 0.07% of SPDR Gold Shares worth $103,136,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the company. City Holding Co. grew its holdings in shares of SPDR Gold Shares by 41.6% during the second quarter. City Holding Co. now owns 22,914 shares of the exchange traded fund’s stock worth $8,441,000 after purchasing an additional 6,733 shares during the last quarter. DDFG Inc increased its stake in shares of SPDR Gold Shares by 57.5% in the second quarter. DDFG Inc now owns 48,753 shares of the exchange traded fund’s stock valued at $17,959,000 after buying an additional 17,793 shares in the last quarter. Arcus Capital Partners LLC increased its stake in shares of SPDR Gold Shares by 90.3% in the first quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock valued at $3,633,000 after buying an additional 4,005 shares in the last quarter. Wellington Management Group LLP raised its holdings in shares of SPDR Gold Shares by 20.8% in the second quarter. Wellington Management Group LLP now owns 80,567 shares of the exchange traded fund’s stock valued at $29,679,000 after buying an additional 13,877 shares during the last quarter. Finally, Lotus Asset Management LLC bought a new position in shares of SPDR Gold Shares in the second quarter valued at about $638,000. 42.19% of the stock is owned by institutional investors.

More SPDR Gold Shares News

Here’s some of the latest news about GLD:

• Positive Sentiment: Some analysts still see scope for a recovery: Standard Chartered expects gold to reach $4,650 by year-end, while early-session bargain buying and short covering briefly supported prices. Gold prices find solid support at $4,000 as Standard Chartered sees rally to $4,650 by year-end
• Negative Sentiment: Hotter-than-expected U.S. inflation has raised expectations for further Fed tightening, pushing the dollar and real yields higher. Those factors make non-yielding gold less attractive; analysts warn that a sustained break below support could open the way toward $3,900. Gold falls below $4,000 as dollar surges, Fed hike bets rise
• Negative Sentiment: Investor flows have also been a headwind: SPDR Gold Shares reportedly saw about $1.8 billion in outflows in October, while Indian gold ETF inflows fell 22% that month. Forget the ETF Outflows: Gold Miners Offer 3X Leverage As Cash Flow Surges

SPDR Gold Shares Stock Down 1.1%

Shares of NYSEARCA GLD opened at $365.17 on Thursday. SPDR Gold Shares has a 12-month low of $354.67 and a 12-month high of $509.70. The firm’s 50-day simple moving average is $382.96 and its 200 day simple moving average is $410.33. The company has a market cap of $128.69 billion, a price-to-earnings 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.