SPDR Gold Shares $GLD Stock Purchased by Overbrook Management Corp

Overbrook Management Corp grew its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 116.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 18,218 shares of the exchange traded fund’s stock after buying an additional 9,794 shares during the quarter. SPDR Gold Shares makes up 1.1% of Overbrook Management Corp’s holdings, making the stock its 22nd biggest holding. Overbrook Management Corp’s holdings in SPDR Gold Shares were worth $6,938,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of GLD. Private Wealth Management Group LLC acquired a new position in shares of SPDR Gold Shares during the 1st quarter worth approximately $30,000. Parvin Asset Management LLC acquired a new position in SPDR Gold Shares during the first quarter worth $31,000. Longview Financial Advisors Inc. acquired a new position in SPDR Gold Shares during the first quarter worth $35,000. NBH Bank purchased a new stake in SPDR Gold Shares in the 2nd quarter valued at $41,000. Finally, Trust Co. of Vermont purchased a new position in shares of SPDR Gold Shares during the 2nd quarter worth $43,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold is receiving support from a weaker dollar and a pullback in Treasury yields, improving the appeal of non-yielding bullion and potentially benefiting GLD. Gold, Silver, Platinum Forecasts – Gold Attempts to Rebound as Treasury Yields Pull Back
• Positive Sentiment: Analysts at Sprott say gold’s resilience despite elevated bond yields, renewed ETF inflows and central banks’ continued retreat from dollar assets support a longer-term bullish outlook. Gold Gains Ground as Central Banks Retreat from Dollar Assets and Inflation Undermines Bonds
• Positive Sentiment: China’s central bank added 21 tonnes of gold in September, extending its buying streak to 23 consecutive months and providing an important source of underlying demand. China’s Central Bank Buys 21 Tonnes of Gold in September
• Positive Sentiment: Longer-term bullish arguments remain intact, including central-bank diversification, inflation concerns and portfolio demand, making the recent decline a potential accumulation opportunity for some investors. Gold ETF Down 13% in Six Months: Four Bullish Reasons for the Long Term
• Neutral Sentiment: Gold is testing major Fibonacci and trendline support around $4,100-$4,103. Holding that zone could produce a double bottom or bullish wedge breakout, while a decisive break lower would signal additional downside for GLD. Gold Price Forecast: $4,103 Support Holds Key to Next Move
• Negative Sentiment: Federal Reserve communications and meeting minutes kept the possibility of another rate hike alive. Stronger-than-expected jobless-claims data also reduced expectations for rapid policy easing, pressuring gold through higher-rate concerns. Fed Minutes Weigh on Gold as It Tests $4,100
• Negative Sentiment: Recent gains in Treasury yields and the dollar have reduced demand for gold, leaving the metal vulnerable to further losses if rates remain elevated. Gold Falls as Higher Yields and Stronger Dollar Weigh

SPDR Gold Shares Stock Performance

Shares of GLD stock traded up $2.74 on Thursday, hitting $378.62. 9,575,749 shares of the stock traded hands, compared to its average volume of 11,705,287. SPDR Gold Shares has a twelve month low of $360.12 and a twelve month high of $509.70. The stock has a market capitalization of $140.24 billion, a PE ratio of -32.43 and a beta of 0.18. The firm’s 50-day moving average price is $397.47 and its two-hundred day moving average price is $401.79.

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.