Compass Financial Management LLC Takes $1.40 Million Position in SPDR Gold Shares $GLD

Compass Financial Management LLC purchased a new stake in SPDR Gold Shares (NYSEARCA:GLD) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 3,742 shares of the exchange traded fund’s stock, valued at approximately $1,395,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. City Holding Co. boosted its stake 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 acquiring an additional 6,733 shares in the last quarter. DDFG Inc increased its stake in SPDR Gold Shares by 57.5% in the 2nd 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 in the last quarter. Crescent Grove Advisors LLC increased its stake in SPDR Gold Shares by 25.3% in the 4th quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock valued at $6,230,000 after purchasing an additional 3,175 shares in the last quarter. Arcus Capital Partners LLC raised its holdings in SPDR Gold Shares by 90.3% during the first quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock worth $3,633,000 after purchasing an additional 4,005 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its holdings in SPDR Gold Shares by 69.8% during the first quarter. Cidel Asset Management Inc. now owns 3,368 shares of the exchange traded fund’s stock worth $1,449,000 after purchasing an additional 1,384 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

GLD opened at $406.77 on Friday. The business’s fifty day moving average is $388.97 and its two-hundred day moving average is $414.61. The company has a market cap of $143.63 billion, a price-to-earnings ratio of -32.43 and a beta of 0.19. SPDR Gold Shares has a one year low of $326.19 and a one year high of $509.70.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Gold recovered from its initial selloff, suggesting continued buying interest despite the stronger jobs report. Investors remain focused on inflation, fiscal risks and central-bank demand as longer-term supports for gold and GLD. Gold claws back from brutal jobs selloff as markets brace for key inflation data
• Positive Sentiment: Invesco said rising government debt and a global bond-market selloff are encouraging investors to treat gold as a strategic portfolio allocation rather than merely a short-term trade. That supports sustained demand for a physically backed ETF such as GLD. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Gold’s recent rally has been attributed primarily to investment flows, while July central-bank purchases totaled 23 metric tons, led by China and Poland. Continued official-sector and investment demand provide fundamental support for GLD. Central banks add 23 net tonnes of gold in July
• Neutral Sentiment: The Netherlands’ transfer of roughly 86 tons of gold from New York and Ottawa to London, citing geopolitical risk and crisis preparedness, highlights persistent official concern about reserve security but does not directly change GLD’s holdings. Dutch central bank moves gold bars out of U.S. and Canada
• Negative Sentiment: The U.S. economy created 162,000 jobs in August, exceeding expectations. The stronger labor market lifted yields and reduced expectations for near-term monetary easing, pressuring gold and GLD. Gold price hit with major selling as U.S. economy creates 162K jobs
• Negative Sentiment: Technical analysts warned that higher rates could keep gold testing its 50-day moving average. Additional evidence of persistent economic strength or elevated inflation could extend short-term pressure on GLD. Gold tests 50-day EMA as strong U.S. jobs data lifts rates

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.