J.Safra Asset Management Corp Purchases 8,122 Shares of SPDR Gold Shares $GLD

J.Safra Asset Management Corp increased its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 10.9% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 82,965 shares of the exchange traded fund’s stock after buying an additional 8,122 shares during the quarter. SPDR Gold Shares accounts for about 1.4% of J.Safra Asset Management Corp’s portfolio, making the stock its 16th biggest holding. J.Safra Asset Management Corp’s holdings in SPDR Gold Shares were worth $30,563,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. WPG Advisers LLC acquired a new position in SPDR Gold Shares during the 4th quarter worth approximately $25,000. Timmons Wealth Management LLC acquired a new stake in shares of SPDR Gold Shares in the fourth quarter valued at approximately $26,000. Chapman Financial Group LLC acquired a new stake in shares of SPDR Gold Shares in the second quarter valued at approximately $26,000. Eukles Asset Management bought a new stake in shares of SPDR Gold Shares in the fourth quarter worth $27,000. Finally, Private Wealth Management Group LLC bought a new stake in shares of SPDR Gold Shares in the first quarter worth $30,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 2.0%

SPDR Gold Shares stock opened at $423.36 on Friday. The company has a market cap of $149.49 billion, a P/E ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 1-year low of $306.43 and a 1-year high of $509.70. The company has a fifty day simple moving average of $382.88 and a 200 day simple moving average of $417.49.

Key SPDR Gold Shares News

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

• Positive Sentiment: Gold climbed back above $4,600 per ounce after the Treasury expanded long-duration bond buybacks. Investors interpreted the move as an effort to contain borrowing costs, pressuring the dollar and supporting non-yielding assets such as gold. Gold Above $4,600 on Weaker Dollar, Debt Fears
• Positive Sentiment: Gold is heading toward a weekly gain of roughly 5%, aided by bond-market jitters, fiscal concerns and dollar weakness. Technical momentum also improved as bullion moved above its 200-day moving average and key resistance levels. Gold rebounds as bond jitters, debt fears and weaker dollar revive bullion demand
• Positive Sentiment: Ray Dalio recommended reducing bond exposure and increasing allocations to gold and Bitcoin, arguing that recent Treasury actions indicate a debt crisis may be approaching. The comments reinforce the safe-haven investment case for GLD. Ray Dalio recommends gold and bitcoin
• Positive Sentiment: Unusually heavy bullish options activity signals increased speculative interest in GLD, with call-option volume about 76% above its average. Traders purchase GLD call options
• Neutral Sentiment: Next week’s July PCE inflation report and Federal Reserve Chair Kevin Warsh’s Jackson Hole speech could drive volatility by changing expectations for interest rates and the dollar. Gold looks to PCE inflation and Jackson Hole
• Negative Sentiment: Stronger-than-expected U.S. economic data, including an August composite PMI of 56.0, could support the dollar and reduce expectations for Federal Reserve easing, creating a potential short-term headwind for gold and GLD. Spot gold holds above $4,585

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.