Strategic Financial Concepts LLC Buys 3,962 Shares of SPDR Gold Shares $GLD

Strategic Financial Concepts LLC lifted its stake in SPDR Gold Shares (NYSEARCA:GLD) by 124.7% during the 4th quarter, HoldingsChannel reports. The fund owned 7,140 shares of the exchange traded fund’s stock after buying an additional 3,962 shares during the period. SPDR Gold Shares comprises approximately 2.6% of Strategic Financial Concepts LLC’s portfolio, making the stock its 10th biggest holding. Strategic Financial Concepts LLC’s holdings in SPDR Gold Shares were worth $2,830,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of GLD. Brighton Jones LLC grew its stake in shares of SPDR Gold Shares by 20.4% in the fourth quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after acquiring an additional 1,903 shares during the last quarter. Bison Wealth LLC grew its stake in shares of SPDR Gold Shares by 77.8% in the fourth quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock worth $1,438,000 after acquiring an additional 2,600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC acquired a new stake in shares of SPDR Gold Shares in the first quarter worth $16,014,000. Schnieders Capital Management LLC. grew its stake in shares of SPDR Gold Shares by 4.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock worth $1,829,000 after acquiring an additional 275 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of SPDR Gold Shares in the second quarter worth $337,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Trading Down 0.8%

Shares of SPDR Gold Shares stock opened at $413.82 on Friday. The company’s fifty day simple moving average is $429.77 and its 200-day simple moving average is $424.64. The company has a market cap of $150.51 billion, a price-to-earnings ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 1 year low of $299.89 and a 1 year high of $509.70.

SPDR Gold Shares News Roundup

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

• Negative Sentiment: Gold prices weakened as a stronger dollar and higher Treasury yields reduced demand for the non-yielding metal. Gold weakens as U.S.-Iran talks keep oil, rates in focus – Kitco PM Report
• Negative Sentiment: Several reports said traders are worried the Fed could stay hawkish or even raise rates further, which has kept precious metals under pressure. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Pulls Back As Traders Worry About Hawkish Fed
• Neutral Sentiment: Gold remains in a tight trading range, with volatility compressing and the market looking for a breakout catalyst. Gold (XAU/USD) Price Forecast: Compression Signals Major Breakout Potential
• Neutral Sentiment: Weak U.S. consumer sentiment and rising inflation expectations could support gold over time, but that effect was offset by stronger dollar and rate pressures today. Spot gold hits session low near $4,500/oz after final Consumer Sentiment drops to 44.8…

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.