Patrick Mauro Investment Advisor INC. Sells 1,601 Shares of SPDR Gold Shares $GLD

Patrick Mauro Investment Advisor INC. decreased its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 19.8% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 6,475 shares of the exchange traded fund’s stock after selling 1,601 shares during the period. SPDR Gold Shares accounts for about 1.5% of Patrick Mauro Investment Advisor INC.’s investment portfolio, making the stock its 24th largest position. Patrick Mauro Investment Advisor INC.’s holdings in SPDR Gold Shares were worth $2,804,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. WPG Advisers LLC bought a new stake in SPDR Gold Shares during the 4th quarter worth approximately $25,000. Eukles Asset Management bought a new stake in SPDR Gold Shares during the 4th quarter worth approximately $27,000. Hopwood Financial Services Inc. bought a new stake in SPDR Gold Shares during the 3rd quarter worth approximately $27,000. Vestwell Advisors LLC bought a new stake in SPDR Gold Shares during the 3rd quarter worth approximately $27,000. Finally, USA Financial Formulas bought a new stake in SPDR Gold Shares during the 4th quarter worth approximately $31,000. Institutional investors 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 prices bounced as traders looked for a bullish reversal near key technical support, with some analysts saying buyers are still defending the long-term trend. Gold (XAU/USD) Price Forecast: Falling Wedge Signals Bullish Reversal
• Positive Sentiment: Weaker U.S. growth data and softer labor readings have kept alive hopes that the Federal Reserve could cut rates later this year, which tends to be supportive for gold. Gold rebounds as weak GDP offsets Hormuz risk – Kitco PM Report
• Positive Sentiment: Gold also benefited from renewed buying on dips and lingering geopolitical uncertainty, including headlines tied to Iran and the Middle East. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Prices Jump Amid Iran Deal Hopes
• Neutral Sentiment: Investors are now watching U.S. manufacturing, jobs, and other macro data for clues on inflation and interest rates, which could drive gold and GLD next. Gold braces for labor market week as investors eye manufacturing, jobs data
• Negative Sentiment: Gold has also faced selling pressure as inflation worries, higher yields, and a firmer dollar pushed prices to a two-month low at points this week, limiting upside for GLD. Gold tumbles to two-month low as inflation hedge status fades

SPDR Gold Shares Trading Up 1.1%

NYSEARCA GLD opened at $417.12 on Friday. SPDR Gold Shares has a 12 month low of $299.89 and a 12 month high of $509.70. The stock has a market cap of $151.71 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. The company’s 50 day moving average is $425.25 and its two-hundred day moving average is $426.28.

SPDR Gold Shares 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.