Avestar Capital LLC Sells 9,118 Shares of SPDR Gold Shares $GLD

Avestar Capital LLC trimmed its position in SPDR Gold Shares (NYSEARCA:GLD) by 70.3% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,845 shares of the exchange traded fund’s stock after selling 9,118 shares during the quarter. Avestar Capital LLC’s holdings in SPDR Gold Shares were worth $1,464,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. SFE Investment Counsel increased its stake in SPDR Gold Shares by 4.5% during the first quarter. SFE Investment Counsel now owns 585 shares of the exchange traded fund’s stock worth $252,000 after purchasing an additional 25 shares during the period. Evolution Wealth Management Inc. increased its stake in SPDR Gold Shares by 2.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 1,200 shares of the exchange traded fund’s stock worth $516,000 after buying an additional 27 shares during the period. Financial Management Professionals Inc. raised its stake in shares of SPDR Gold Shares by 0.6% in the second quarter. Financial Management Professionals Inc. now owns 4,414 shares of the exchange traded fund’s stock valued at $1,626,000 after acquiring an additional 27 shares in the last quarter. Kraft Davis & Associates LLC grew its stake in SPDR Gold Shares by 0.6% during the 2nd quarter. Kraft Davis & Associates LLC now owns 4,595 shares of the exchange traded fund’s stock worth $1,714,000 after purchasing an additional 27 shares in the last quarter. Finally, Capital City Trust Co. FL raised its position in SPDR Gold Shares by 1.8% in the 2nd quarter. Capital City Trust Co. FL now owns 1,516 shares of the exchange traded fund’s stock valued at $558,000 after purchasing an additional 27 shares in the last quarter. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Trading Down 3.5%

Shares of GLD opened at $355.78 on Friday. The firm’s fifty day simple moving average is $390.57 and its 200-day simple moving average is $412.97. The firm has a market capitalization of $129.86 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18. SPDR Gold Shares has a twelve month low of $354.67 and a twelve month high of $509.70.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Market technician Peter Brandt identified potential bottoming signals after GLD reached a 52-week low, which could attract bargain hunters if gold stabilizes. Gold, Silver In Spotlight After GLD Hits 52-Week Low
• Positive Sentiment: Longer-term bullish arguments remain, including elevated inflation, geopolitical risks and uncertainty surrounding the artificial-intelligence sector, all of which may support demand for gold as a safe-haven asset. Gold Just Dipped Below $4,000 Per Ounce
• Neutral Sentiment: The Swiss National Bank’s large quarterly profit from gold and foreign assets highlights the gains central-bank gold holdings can generate, but it does not directly change GLD’s near-term outlook. Swiss Central Bank Posts Bumper Profit
• Negative Sentiment: Gold’s break below $4,000 exposed support near $3,950, with forecasts warning that a move through that level could lead to a deeper correction toward roughly $3,886–$3,708. Gold Price Forecast: Mass Liquidation Puts $3,886–$3,708 in Play
• Negative Sentiment: Hot inflation data and stronger GDP increased expectations for additional Fed tightening. Higher Treasury yields and real yields raise the opportunity cost of holding non-yielding gold, weighing directly on GLD. Hot PCE Lifts Hike Odds
• Negative Sentiment: Technical analysts describe a bearish reversal, weakening monthly moving-average signals and persistent selling pressure. A break below the $3,900–$4,000 support region could accelerate liquidation and further pressure GLD. Bearish Reversal Threatens Key Support

SPDR Gold Shares Company 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.