SPDR Gold Shares $GLD Holdings Lowered by Trek Financial LLC

Trek Financial LLC reduced its position in SPDR Gold Shares (NYSEARCA:GLD) by 19.6% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 6,592 shares of the exchange traded fund’s stock after selling 1,606 shares during the quarter. Trek Financial LLC’s holdings in SPDR Gold Shares were worth $2,511,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. City Holding Co. boosted its holdings in shares of SPDR Gold Shares by 41.6% during the 2nd quarter. City Holding Co. now owns 22,914 shares of the exchange traded fund’s stock worth $8,441,000 after purchasing an additional 6,733 shares during the last quarter. DDFG Inc increased its holdings in shares of SPDR Gold Shares by 57.5% in the second quarter. DDFG Inc now owns 48,753 shares of the exchange traded fund’s stock valued at $17,959,000 after purchasing an additional 17,793 shares during the last quarter. Arcus Capital Partners LLC increased its holdings in shares of SPDR Gold Shares by 90.3% in the first quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock valued at $3,633,000 after purchasing an additional 4,005 shares during the last quarter. Wellington Management Group LLP increased its holdings in shares of SPDR Gold Shares by 20.8% in the second quarter. Wellington Management Group LLP now owns 80,567 shares of the exchange traded fund’s stock valued at $29,679,000 after purchasing an additional 13,877 shares during the last quarter. Finally, First Eagle Investment Management LLC lifted its position in SPDR Gold Shares by 1.5% during the second quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock worth $917,864,000 after buying an additional 35,882 shares in the last quarter. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Performance

Shares of SPDR Gold Shares stock opened at $361.65 on Tuesday. The business’s 50 day moving average price is $389.34 and its 200 day moving average price is $412.67. The company has a market cap of $132.33 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18. SPDR Gold Shares has a one year low of $354.67 and a one year high of $509.70.

Key SPDR Gold Shares News

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 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.