Capital Wealth Planning LLC Lowers Position in SPDR Gold Shares $GLD

Capital Wealth Planning LLC lessened its stake in SPDR Gold Shares (NYSEARCA:GLD) by 50.3% during the 4th quarter, HoldingsChannel reports. The firm owned 13,407 shares of the exchange traded fund’s stock after selling 13,565 shares during the quarter. Capital Wealth Planning LLC’s holdings in SPDR Gold Shares were worth $5,313,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. WPG Advisers LLC purchased a new stake in SPDR Gold Shares in the 4th quarter worth approximately $25,000. Eukles Asset Management purchased a new stake in SPDR Gold Shares in the 4th quarter worth approximately $27,000. Vestwell Advisors LLC purchased a new stake in SPDR Gold Shares in the 3rd quarter worth approximately $27,000. USA Financial Formulas purchased a new stake in SPDR Gold Shares in the 4th quarter worth approximately $31,000. Finally, Networth Advisors LLC purchased a new stake in SPDR Gold Shares in the 4th quarter worth approximately $34,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Down 4.1%

SPDR Gold Shares stock opened at $374.58 on Thursday. SPDR Gold Shares has a 12 month low of $299.89 and a 12 month high of $509.70. The stock’s 50 day simple moving average is $423.40 and its two-hundred day simple moving average is $427.89. The firm has a market cap of $136.23 billion, a PE ratio of -32.43 and a beta of 0.14.

Key Headlines Impacting SPDR Gold Shares

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

• Negative Sentiment: Gold dropped sharply after the May CPI report kept inflation concerns alive, pushing yields higher and weakening demand for non-yielding assets like gold. Gold, silver fall as CPI keeps Fed pressure on – Kitco AM Report
• Negative Sentiment: Gold broke below major technical support, including the 200-day moving average, raising the risk of further downside in the near term. Gold (XAU/USD) Price Forecast: Bearish Breakdown Signals Trend Shift Risk
• Negative Sentiment: Traders are increasingly betting that the pain in gold could continue for an extended period as the ETF has slid well off its highs. As gold’s tumble continues, traders bet the pain may last for two more years
• Negative Sentiment: Several market reports say gold remains under pressure ahead of CPI and after the release, with a stronger dollar, rising oil prices, and persistent rate-hike expectations weighing on bullion. Gold and Silver Price Forecast: Metals Face Pressure Before CPI Data

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.