COFG Advisors LLC Acquires New Position in SPDR Gold Shares $GLD

COFG Advisors LLC acquired a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) during the 4th quarter, Holdings Channel reports. The fund acquired 6,651 shares of the exchange traded fund’s stock, valued at approximately $2,636,000.

Several other institutional investors and hedge funds have also modified their holdings of GLD. First Eagle Investment Management LLC increased its position in shares of SPDR Gold Shares by 2.7% in the third quarter. First Eagle Investment Management LLC now owns 2,531,196 shares of the exchange traded fund’s stock worth $899,764,000 after acquiring an additional 66,416 shares in the last quarter. Bank of Montreal Can acquired a new stake in shares of SPDR Gold Shares in the third quarter worth $556,282,000. Ameriprise Financial Inc. increased its position in shares of SPDR Gold Shares by 3.4% in the third quarter. Ameriprise Financial Inc. now owns 1,555,831 shares of the exchange traded fund’s stock worth $554,139,000 after acquiring an additional 50,756 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of SPDR Gold Shares by 3.0% in the third quarter. Envestnet Asset Management Inc. now owns 1,222,891 shares of the exchange traded fund’s stock worth $434,701,000 after acquiring an additional 35,619 shares in the last quarter. Finally, Barclays PLC increased its position in shares of SPDR Gold Shares by 1.4% in the third quarter. Barclays PLC now owns 1,125,376 shares of the exchange traded fund’s stock worth $400,037,000 after acquiring an additional 15,932 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Down 1.4%

GLD opened at $411.26 on Tuesday. The company has a fifty day simple moving average of $424.95 and a 200 day simple moving average of $426.83. The firm has a market cap of $149.58 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a twelve month low of $299.89 and a twelve month high of $509.70.

Key Headlines Impacting SPDR Gold Shares

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

• Negative Sentiment: Gold fell from a two-week high as the dollar strengthened and oil prices jumped amid fresh U.S.-Iran strikes, creating a headwind for the metal and for SPDR Gold Shares (GLD). Update: Gold Falls Off a Two-Week High as Oil Rises as the U.S. and Iran Trade Strikes
• Negative Sentiment: Spot gold was lower as crude oil climbed, Treasury yields firmed, and U.S.-Iran negotiations remained unresolved, reinforcing a risk-off but dollar-supportive backdrop that can pressure GLD. Gold falls as oil jumps on U.S.-Iran deadlock – Kitco PM Report
• Negative Sentiment: Better-than-expected U.S. manufacturing data pushed gold lower by supporting Treasury yields and reducing expectations for near-term Fed rate cuts. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
• Negative Sentiment: Several market commentary pieces also pointed to a stronger dollar, higher oil, and easing rate-cut bets as reasons gold retreated, which is weighing on GLD sentiment. Gold News: Rising Oil Prices Darken Gold Price Future Before Payrolls

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.