SPDR Gold Shares $GLD Stake Reduced by Parallel Advisors LLC

Parallel Advisors LLC lessened its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 3.1% during the third quarter, Holdings Channel.com reports. The institutional investor owned 52,111 shares of the exchange traded fund’s stock after selling 1,670 shares during the quarter. Parallel Advisors LLC’s holdings in SPDR Gold Shares were worth $19,846,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of GLD. Parvin Asset Management LLC acquired a new stake in shares of SPDR Gold Shares in the first quarter valued at approximately $31,000. Livelsberger Financial Advisory bought a new position in shares of SPDR Gold Shares during the 3rd quarter worth approximately $30,000. NBH Bank bought a new position in shares of SPDR Gold Shares during the 2nd quarter worth approximately $41,000. IMG Wealth Management Inc. boosted its stake in shares of SPDR Gold Shares by 440.9% during the 3rd quarter. IMG Wealth Management Inc. now owns 119 shares of the exchange traded fund’s stock worth $45,000 after acquiring an additional 97 shares during the period. Finally, RHL Group LLC increased its holdings in shares of SPDR Gold Shares by 48.9% during the 2nd quarter. RHL Group LLC now owns 131 shares of the exchange traded fund’s stock worth $48,000 after acquiring an additional 43 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: One analyst says proposed Democratic spending could weaken the U.S. dollar and provide a longer-term floor for gold. Midterm-related buying had also helped gold return above $4,000 an ounce. Article: Dems’ spending plans could weaken the dollar and support gold
• Neutral Sentiment: Election results may have reduced some uncertainty, but traders still see the Federal Reserve and the President as key influences on the dollar and gold. Markets are awaiting the Fed’s December decision. Article: Gold and the dollar remain dependent on Trump and the Fed
• Negative Sentiment: October payrolls rose by 165,000, stronger than expected, lifting the dollar and real yields and increasing expectations of a possible December Fed rate hike. That pressured gold and threatens its $4,000-an-ounce support; a sustained break could deepen bullion’s pullback, weighing on GLD. Article: Gold faces risk to $4,000 support after strong payrolls

SPDR Gold Shares Stock Down 0.8%

Shares of GLD stock traded down $2.97 during trading on Friday, reaching $372.52. 7,393,978 shares of the company’s stock were exchanged, compared to its average volume of 11,419,466. SPDR Gold Shares has a twelve month low of $354.67 and a twelve month high of $509.70. The firm’s fifty day moving average price is $384.96 and its 200-day moving average price is $411.53. The stock has a market capitalization of $135.93 billion, a PE ratio of -32.43 and a beta of 0.20.

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.