Mirae Asset Global Investments Co. Ltd. Acquires 85,163 Shares of SPDR Gold Shares $GLD

Mirae Asset Global Investments Co. Ltd. bought a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) in the third quarter, HoldingsChannel reports. The institutional investor bought 85,163 shares of the exchange traded fund’s stock, valued at approximately $32,433,000.

Several other hedge funds have also made changes to their positions in GLD. SFE Investment Counsel grew its position in shares of 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 in the last quarter. Financial Management Professionals Inc. raised its holdings in shares of 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 valued at $1,626,000 after acquiring an additional 27 shares in the last quarter. Kraft Davis & Associates LLC raised its holdings in shares of 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 acquiring an additional 27 shares in the last quarter. Capital City Trust Co. FL raised its holdings in shares of SPDR Gold Shares by 1.8% in the second quarter. Capital City Trust Co. FL now owns 1,516 shares of the exchange traded fund’s stock valued at $558,000 after acquiring an additional 27 shares in the last quarter. Finally, Peoples Bank KS lifted its stake in SPDR Gold Shares by 2.0% in the third quarter. Peoples Bank KS now owns 1,410 shares of the exchange traded fund’s stock worth $537,000 after acquiring an additional 27 shares during the period. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Price Performance

NYSEARCA:GLD opened at $361.65 on Tuesday. SPDR Gold Shares has a 1-year low of $354.67 and a 1-year high of $509.70. The company has a 50-day moving average of $389.34 and a 200 day moving average of $412.67. The firm has a market cap of $132.33 billion, a PE ratio of -32.43 and a beta of 0.18.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Gold rebounded more than 2% as plunging oil prices reduced inflation concerns and weakened expectations for additional Federal Reserve rate hikes. Lower rates and yields generally support gold and GLD. Gold News: XAUUSD Rebounds as Oil Plunge Pressures Fed Hike Expectations
• Positive Sentiment: Bargain hunters returned after gold suffered its worst October since 2008, helping the metal test resistance near $3,978. Improved investor sentiment also supported early Asian trading. Gold and Silver Price Forecast
• Neutral Sentiment: Lower real yields provided some support, but investors are awaiting key U.S. employment data for clues about the Federal Reserve’s rate path. Gold: Lower Real Yields Offer Support Before the Employment Test
• Neutral Sentiment: GLD’s October short-interest report may influence trading sentiment, although the supplied report does not provide specific changes in short positions. SPDR Gold Shares Stock Short Interest Report
• Negative Sentiment: Expectations for tighter U.S. monetary policy remain a headwind for gold, which was still below the psychologically important $4,000 level. Gold Rises, But Expectations of Tighter U.S. Monetary Policy Weigh
• Negative Sentiment: A valuation analysis argues that gold remains about 22% overvalued despite falling 31% from its peak, suggesting further downside risk if momentum stays negative. Gold Price Outlook
• Negative Sentiment: GLD experienced a $1.8 billion outflow in October, its weakest monthly flow since June, indicating reduced investor demand for the fund. GLD Suffers $1.8 Billion October Outflow

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.