SPDR Gold Shares $GLD Stock Bought by Mader & Shannon Wealth Management Inc.

Mader & Shannon Wealth Management Inc. lifted its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 2.2% in the third quarter, HoldingsChannel reports. The institutional investor owned 69,358 shares of the exchange traded fund’s stock after purchasing an additional 1,472 shares during the period. SPDR Gold Shares makes up approximately 11.1% of Mader & Shannon Wealth Management Inc.’s holdings, making the stock its 3rd biggest holding. Mader & Shannon Wealth Management Inc.’s holdings in SPDR Gold Shares were worth $26,414,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in GLD. Bank of Korea acquired a new position in SPDR Gold Shares in the second quarter valued at $250,411,831. CI Investments Inc. increased its stake in SPDR Gold Shares by 96.7% during the first quarter. CI Investments Inc. now owns 282,364 shares of the exchange traded fund’s stock worth $121,498,000 after acquiring an additional 138,846 shares during the last quarter. Fifth Third Bancorp raised its holdings in shares of SPDR Gold Shares by 83.0% in the 1st quarter. Fifth Third Bancorp now owns 298,497 shares of the exchange traded fund’s stock worth $128,440,000 after purchasing an additional 135,373 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of SPDR Gold Shares in the 1st quarter worth about $46,816,000. Finally, International Assets Investment Management LLC raised its holdings in shares of SPDR Gold Shares by 1,034.0% in the 3rd quarter. International Assets Investment Management LLC now owns 115,000 shares of the exchange traded fund’s stock worth $43,797,000 after purchasing an additional 104,859 shares during the period. 42.19% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about 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 NYSEARCA GLD traded down $2.97 during midday trading on Friday, hitting $372.52. The stock had a trading volume of 7,393,978 shares, compared to its average volume of 11,419,466. The company has a market capitalization of $135.93 billion, a price-to-earnings ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a 1-year low of $354.67 and a 1-year high of $509.70. The company has a fifty day moving average price of $384.96 and a 200 day moving average price of $411.53.

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.