Shelter Mutual Insurance Co Acquires Shares of 32,900 SPDR Gold Shares $GLD

Shelter Mutual Insurance Co bought a new position in shares of SPDR Gold Shares (NYSEARCA:GLD) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 32,900 shares of the exchange traded fund’s stock, valued at approximately $839,000.

Other large investors have also recently made changes to their positions in the company. Morgan Stanley grew its stake in SPDR Gold Shares by 22.4% in the 4th quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock worth $5,506,229,000 after acquiring an additional 2,539,266 shares in the last quarter. Corient Private Wealth LLC boosted its holdings in shares of SPDR Gold Shares by 571.3% in the fourth quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock valued at $1,565,118,000 after purchasing an additional 3,360,966 shares during the period. Virtu Financial LLC bought a new position in SPDR Gold Shares in the fourth quarter worth approximately $474,952,000. Marino Management LLC bought a new stake in SPDR Gold Shares during the 4th quarter valued at $438,475,000. Finally, Rockefeller Capital Management L.P. lifted its holdings in shares of SPDR Gold Shares by 13.2% in the 4th quarter. Rockefeller Capital Management L.P. now owns 938,260 shares of the exchange traded fund’s stock worth $371,842,000 after buying an additional 109,205 shares during the period. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Price Performance

GLD stock opened at $426.69 on Tuesday. SPDR Gold Shares has a 1-year low of $309.67 and a 1-year high of $509.70. The business has a 50-day moving average price of $383.48 and a 200 day moving average price of $417.22. The company has a market capitalization of $150.66 billion, a P/E ratio of -32.43 and a beta of 0.17.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold prices advanced as concerns about the sustainability of U.S. government debt revived the “debasement trade.” A Bank of America survey found that speculative investors raised bullish gold positions for a third consecutive week, while many respondents viewed gold as undervalued. BofA survey says gold is undervalued and bullish speculative interest picks up
• Positive Sentiment: A weaker U.S. dollar, Treasury buyback plans and reported record exchange-traded-fund inflows are keeping buyers active and supporting expectations that gold’s breakout can continue. Gold ETF inflows confirm market breakout after buyback plan
• Positive Sentiment: Gold remained firm despite elevated Treasury yields, supported by fiscal-risk hedging, dollar weakness and lingering geopolitical uncertainty. The metal’s move above its 200-day moving average is also a positive technical signal for GLD. Gold nears $4,660 as PCE and Jackson Hole frame Fed trade
• Neutral Sentiment: Near-term direction may depend on upcoming inflation data and Federal Reserve commentary. Sticky inflation or a renewed prospect of rate hikes could interrupt gold’s rally by supporting yields and the dollar. Gold rally depends on sustained investment demand and Fed inflation response
• Neutral Sentiment: A large transaction involving the sale of nearly 116,000 GLD call options expiring September 18 could signal caution about near-term upside, although its investor and market-making implications are uncertain. A massive trade just happened in gold options
• Negative Sentiment: Investors holding GLD in taxable accounts should note that long-term gains may be taxed at the 28% collectibles rate rather than the lower rate commonly associated with other ETFs, potentially reducing after-tax returns. GLD gains are taxed as a collectible

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.