CENTRAL TRUST Co Sells 1,775 Shares of SPDR Gold Shares $GLD

CENTRAL TRUST Co decreased its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 2.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 62,861 shares of the exchange traded fund’s stock after selling 1,775 shares during the period. CENTRAL TRUST Co’s holdings in SPDR Gold Shares were worth $23,940,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of GLD. Livelsberger Financial Advisory purchased a new stake in SPDR Gold Shares in the 3rd quarter valued at $30,000. Parvin Asset Management LLC purchased a new position in SPDR Gold Shares during the 1st quarter worth $31,000. NBH Bank purchased a new position in SPDR Gold Shares during the 2nd quarter worth $41,000. Trust Co. of Vermont purchased a new position in SPDR Gold Shares during the 2nd quarter worth $43,000. Finally, IMG Wealth Management Inc. boosted its holdings in SPDR Gold Shares by 440.9% during the 3rd quarter. IMG Wealth Management Inc. now owns 119 shares of the exchange traded fund’s stock worth $45,000 after acquiring an additional 97 shares during the last quarter. Institutional investors own 42.19% of the company’s stock.

Latest SPDR Gold Shares News

Here’s some of the latest news about GLD:

• Positive Sentiment: Some analysts still see scope for a recovery: Standard Chartered expects gold to reach $4,650 by year-end, while early-session bargain buying and short covering briefly supported prices. Gold prices find solid support at $4,000 as Standard Chartered sees rally to $4,650 by year-end
• Negative Sentiment: Hotter-than-expected U.S. inflation has raised expectations for further Fed tightening, pushing the dollar and real yields higher. Those factors make non-yielding gold less attractive; analysts warn that a sustained break below support could open the way toward $3,900. Gold falls below $4,000 as dollar surges, Fed hike bets rise
• Negative Sentiment: Investor flows have also been a headwind: SPDR Gold Shares reportedly saw about $1.8 billion in outflows in October, while Indian gold ETF inflows fell 22% that month. Forget the ETF Outflows: Gold Miners Offer 3X Leverage As Cash Flow Surges

SPDR Gold Shares Price Performance

NYSEARCA GLD opened at $365.17 on Thursday. SPDR Gold Shares has a 1 year low of $354.67 and a 1 year high of $509.70. The firm has a market cap of $128.69 billion, a price-to-earnings ratio of -32.43 and a beta of 0.20. The company has a fifty day moving average price of $382.96 and a 200-day moving average price of $410.33.

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.