SPDR Gold Shares $GLD Stake Raised by Grove Bank & Trust

Grove Bank & Trust boosted its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 15.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 30,267 shares of the exchange traded fund’s stock after buying an additional 4,096 shares during the period. SPDR Gold Shares makes up about 1.1% of Grove Bank & Trust’s portfolio, making the stock its 25th biggest holding. Grove Bank & Trust’s holdings in SPDR Gold Shares were worth $11,527,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Hughes Financial Services LLC raised its holdings in shares of SPDR Gold Shares by 3.4% during the 4th quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock worth $264,000 after acquiring an additional 22 shares in the last quarter. Viewpoint Capital Management LLC grew its holdings in shares of SPDR Gold Shares by 2.8% in the first quarter. Viewpoint Capital Management LLC now owns 925 shares of the exchange traded fund’s stock valued at $398,000 after purchasing an additional 25 shares in the last quarter. Summer Road LLC grew its holdings in shares of SPDR Gold Shares by 11.1% in 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 in the last quarter. SFE Investment Counsel increased its position 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 worth $252,000 after purchasing an additional 25 shares during the last quarter. Finally, Evolution Wealth Management Inc. increased its position 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 worth $516,000 after purchasing an additional 27 shares during the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 0.7%

SPDR Gold Shares stock traded up $2.74 during mid-day trading on Thursday, reaching $378.62. 9,575,749 shares of the company’s stock traded hands, compared to its average volume of 11,705,287. SPDR Gold Shares has a 12-month low of $360.12 and a 12-month high of $509.70. The stock has a 50 day moving average of $397.47 and a two-hundred day moving average of $401.79. The company has a market cap of $140.24 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold is attempting to recover as the U.S. dollar and Treasury yields pull back, improving the appeal of non-yielding bullion. A hold above the roughly $4,100–$4,103 support zone could encourage a double-bottom or bullish-wedge breakout. Gold attempts to rebound as Treasury yields pull back
• Positive Sentiment: Strategists at Sprott said gold’s resilience despite elevated bond yields, fresh ETF inflows, central-bank diversification away from dollar assets and persistent inflation support the longer-term bullish case. Gold gains ground as central banks retreat from dollar assets
• Positive Sentiment: China’s central bank added 21 tonnes of gold in September, its largest monthly purchase in three years and the 23rd consecutive month of buying, reinforcing official-sector demand for bullion and indirectly supporting GLD. China’s central bank buys 21 tonnes of gold
• Neutral Sentiment: Analysts view the recent decline as a potential long-term entry opportunity, citing central-bank purchases, diversification demand and possible future rate support, although near-term momentum remains uncertain. Gold ETF down 13% in six months
• Negative Sentiment: Fed minutes and stronger-than-expected jobless-claims data have kept the possibility of another rate hike alive. Higher yields and a stronger dollar raise the opportunity cost of holding gold and remain the main pressure on GLD. Fed minutes weigh on gold
• Negative Sentiment: Gold’s bearish trend remains intact while prices test major technical support. A sustained break below approximately $4,100 could trigger additional selling and weigh on GLD. Gold continues to face pressures

About SPDR Gold Shares

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.