The Manufacturers Life Insurance Company Raises Position in SPDR Gold Shares $GLD

The Manufacturers Life Insurance Company increased its stake in SPDR Gold Shares (NYSEARCA:GLD) by 45.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 49,226 shares of the exchange traded fund’s stock after purchasing an additional 15,459 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in SPDR Gold Shares were worth $18,134,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. MCF Advisors LLC lifted its stake in SPDR Gold Shares by 9.5% in the second quarter. MCF Advisors LLC now owns 971 shares of the exchange traded fund’s stock valued at $358,000 after purchasing an additional 84 shares during the last quarter. Bienville Capital Management LLC increased its position in SPDR Gold Shares by 70.3% in the second quarter. Bienville Capital Management LLC now owns 14,826 shares of the exchange traded fund’s stock worth $5,462,000 after buying an additional 6,120 shares during the last quarter. Lotus Asset Management LLC purchased a new stake in SPDR Gold Shares in the second quarter worth $638,000. Insight Wealth Partners LLC raised its stake in shares of SPDR Gold Shares by 1.4% in the second quarter. Insight Wealth Partners LLC now owns 4,543 shares of the exchange traded fund’s stock valued at $1,674,000 after buying an additional 61 shares during the period. Finally, Capital Advantage Inc. raised its stake in shares of SPDR Gold Shares by 10.3% in the second quarter. Capital Advantage Inc. now owns 2,041 shares of the exchange traded fund’s stock valued at $752,000 after buying an additional 190 shares during the period. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD opened at $398.77 on Friday. SPDR Gold Shares has a one year low of $333.81 and a one year high of $509.70. The business’s fifty day moving average price is $391.79 and its 200-day moving average price is $412.57. The stock has a market capitalization of $140.81 billion, a PE ratio of -32.43 and a beta of 0.19.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold held near the important $4,300 support level after rebounding from its 200-day exponential moving average. A move above roughly $4,443 could signal another bullish leg, with $4,500 identified as the next major resistance area. Gold price holds $4,300 support as CPI lifts Fed-hike odds
• Positive Sentiment: U.S. consumer sentiment fell sharply to a preliminary September reading of 47.8, while inflation expectations rose. The combination of weaker confidence and higher perceived inflation may encourage investors to seek gold as a store of value. Gold price holds near high after preliminary Consumer Sentiment falls
• Positive Sentiment: Analysts said a potential Fed rate hike may cause short-term volatility but is unlikely to derail gold’s longer-term bullish thesis, which remains supported by sovereign-debt concerns, geopolitical risks and continued investment demand. The Fed can hike, but it won’t derail gold’s long-term bull market
• Positive Sentiment: Reports indicate that central-bank gold movements reflect repatriation and concerns about sanctions or asset seizure rather than broad liquidation, reducing fears of a major official-sector supply increase. Central bank gold moves are about repatriation, not liquidation

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.