SG Trading Solutions LLC Invests $4.38 Million in SPDR Gold Shares $GLD

SG Trading Solutions LLC acquired a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) during the 4th quarter, Holdings Channel reports. The fund acquired 11,045 shares of the exchange traded fund’s stock, valued at approximately $4,377,000. SPDR Gold Shares makes up 1.0% of SG Trading Solutions LLC’s holdings, making the stock its 18th biggest holding.

Other institutional investors and hedge funds have also modified their holdings of the company. WPG Advisers LLC purchased a new stake in SPDR Gold Shares in the 4th quarter worth approximately $25,000. Timmons Wealth Management LLC purchased a new position in shares of SPDR Gold Shares during the 4th quarter worth $26,000. Chapman Financial Group LLC purchased a new position in shares of SPDR Gold Shares during the 2nd quarter worth $26,000. Vestwell Advisors LLC acquired a new stake in shares of SPDR Gold Shares during the third quarter worth $27,000. Finally, Eukles Asset Management acquired a new stake in shares of SPDR Gold Shares during the fourth quarter worth $27,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Down 0.4%

Shares of NYSEARCA:GLD opened at $387.12 on Friday. The company has a market cap of $140.80 billion, a P/E ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a 52 week low of $299.89 and a 52 week high of $509.70. The business has a fifty day simple moving average of $418.52 and a 200-day simple moving average of $428.27.

SPDR Gold Shares News Roundup

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

• Negative Sentiment: Gold prices are retreating as the dollar tests yearly highs and traders reprice the Fed’s “higher-for-longer” message after the policy meeting. Gold, silver sink as dollar tests yearly highs following hawkish Fed – Kitco PM Report
• Negative Sentiment: Gold is also being pressured by stronger U.S. data, including a rebound in the Philly Fed survey and solid labor-market readings, which reduce expectations for near-term easing. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June
• Neutral Sentiment: Some analysts say gold ETFs still deserve a place in long-term portfolios because of central-bank buying and diversification benefits, which may help limit downside over time. Why Gold ETFs Still Deserve a Place in Long-Term Portfolios
• Neutral Sentiment: Broader geopolitical uncertainty and central-bank reserve accumulation continue to provide a long-term backdrop of support, even as short-term pricing weakens. Central banks are bringing gold reserves home as geopolitical risks rise
• Negative Sentiment: Technical analysts warn that gold has broken lower from recent resistance and may be heading toward key support zones, suggesting more near-term downside for GLD if the selling continues. Gold (XAU/USD) Price Forecast: Can Bulls Defend Fibonacci Support?

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.