DiPaolo Financial Group Inc. Takes Position in SPDR Gold Shares $GLD

DiPaolo Financial Group Inc. purchased a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 3,018 shares of the exchange traded fund’s stock, valued at approximately $1,196,000. SPDR Gold Shares makes up about 1.3% of DiPaolo Financial Group Inc.’s investment portfolio, making the stock its 13th largest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Corient Private Wealth LLC grew its position in SPDR Gold Shares by 571.3% in the 4th quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock worth $1,565,118,000 after purchasing an additional 3,360,966 shares in the last quarter. Morgan Stanley lifted its position in shares of SPDR Gold Shares by 22.4% during the 4th quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock worth $5,506,229,000 after buying an additional 2,539,266 shares in the last quarter. Bank of Montreal Can bought a new position in shares of SPDR Gold Shares during the 3rd quarter worth approximately $556,282,000. Virtu Financial LLC purchased a new position in shares of SPDR Gold Shares in the 4th quarter worth approximately $474,952,000. Finally, Marino Management LLC purchased a new position in shares of SPDR Gold Shares in the 4th quarter worth approximately $438,475,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Down 0.4%

GLD stock opened at $387.12 on Friday. The firm has a market cap of $140.80 billion, a PE ratio of -32.43 and a beta of 0.14. The business has a 50 day moving average of $418.52 and a 200-day moving average of $428.27. SPDR Gold Shares has a 12-month low of $299.89 and a 12-month high of $509.70.

Trending Headlines about SPDR Gold Shares

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?

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.