SPDR Gold Shares $GLD Stock Sold by WealthNavi Inc.

WealthNavi Inc. reduced its stake in SPDR Gold Shares (NYSEARCA:GLD) by 1.3% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 459,075 shares of the exchange traded fund’s stock after selling 5,914 shares during the period. SPDR Gold Shares accounts for about 1.4% of WealthNavi Inc.’s investment portfolio, making the stock its 10th biggest holding. WealthNavi Inc.’s holdings in SPDR Gold Shares were worth $174,834,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently made changes to their positions in the company. Summer Road LLC lifted its holdings in shares of SPDR Gold Shares by 11.1% in the 1st quarter. Summer Road LLC now owns 250 shares of the exchange traded fund’s stock worth $108,000 after purchasing an additional 25 shares during the last quarter. SFE Investment Counsel grew its stake in SPDR Gold Shares by 4.5% during the 1st quarter. SFE Investment Counsel now owns 585 shares of the exchange traded fund’s stock worth $252,000 after buying an additional 25 shares during the last quarter. 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 buying an additional 27 shares during the period. Financial Management Professionals Inc. increased its position 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 worth $1,626,000 after buying an additional 27 shares during the period. Finally, Kraft Davis & Associates LLC lifted its stake in SPDR Gold Shares by 0.6% in the second quarter. Kraft Davis & Associates LLC now owns 4,595 shares of the exchange traded fund’s stock valued at $1,714,000 after buying an additional 27 shares during the last quarter. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares Stock Performance

GLD stock opened at $372.28 on Wednesday. SPDR Gold Shares has a 1 year low of $360.12 and a 1 year high of $509.70. The stock has a market capitalization of $138.08 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18. The stock’s fifty day moving average is $393.17 and its two-hundred day moving average is $413.72.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold rebounded as declining oil prices reduced inflation fears and encouraged renewed buying in precious metals ahead of the Fed meeting. A dovish Fed signal could provide additional support for GLD. Gold climbs above $4,050 as Wall Street rallies ahead of Fed decision
• Positive Sentiment: Weak U.S. new-home sales are reinforcing safe-haven demand and raising concerns about economic growth, which may benefit gold and GLD. Gold prices holding above $4,000 as U.S. new home sales fall
• Positive Sentiment: State Street said gold could recover substantially, potentially reaching $5,500 by early next year, while recent declines have pushed the market toward oversold conditions. Downside risks are building in gold, but prices still have a path to $5,000
• Neutral Sentiment: Gold briefly benefited from stronger consumer confidence, which lifted prices toward the session high, but the data could also support higher interest rates and limit future gains. Gold price shoots to session high after Consumer Confidence rises
• Negative Sentiment: Analysts warn that gold must establish a floor near $4,000 or risk a deeper correction after its two-month decline. Persistent inflation and expectations for another Fed rate increase are weighing on the metal. Gold price needs to build a floor here or face a deeper correction
• Negative Sentiment: Short interest in GLD rose 71.8% during October to 15.4 million shares, signaling increased bearish positioning, although the 2.1-day days-to-cover ratio leaves some potential for short-covering if gold continues higher.

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.