SPDR Gold Shares $GLD Stock Position Reduced by Catawba River Capital

Catawba River Capital cut its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 2.1% during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 72,751 shares of the exchange traded fund’s stock after selling 1,588 shares during the period. SPDR Gold Shares comprises approximately 12.8% of Catawba River Capital’s holdings, making the stock its largest position. Catawba River Capital’s holdings in SPDR Gold Shares were worth $28,832,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in GLD. Calder Financial LLC purchased a new position in SPDR Gold Shares in the fourth quarter valued at about $807,000. Empirical Asset Management LLC grew its stake in SPDR Gold Shares by 256.7% in the third quarter. Empirical Asset Management LLC now owns 36,404 shares of the exchange traded fund’s stock valued at $12,941,000 after purchasing an additional 26,197 shares in the last quarter. Colonial Trust Advisors grew its stake in SPDR Gold Shares by 7.6% in the third quarter. Colonial Trust Advisors now owns 19,720 shares of the exchange traded fund’s stock valued at $7,010,000 after purchasing an additional 1,385 shares in the last quarter. FAS Wealth Partners Inc. grew its stake in SPDR Gold Shares by 71.1% in the third quarter. FAS Wealth Partners Inc. now owns 20,916 shares of the exchange traded fund’s stock valued at $7,435,000 after purchasing an additional 8,691 shares in the last quarter. Finally, Ervin Investment Management LLC purchased a new position in SPDR Gold Shares in the fourth quarter valued at about $7,178,000. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Down 2.3%

GLD stock opened at $417.29 on Friday. The company has a market capitalization of $151.77 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 12 month low of $291.78 and a 12 month high of $509.70. The firm has a 50 day moving average of $435.54 and a two-hundred day moving average of $422.92.

Trending Headlines about SPDR Gold Shares

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

• 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.