SPDR Gold Shares $GLD Shares Sold by Atticus Wealth Management LLC

Atticus Wealth Management LLC cut its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 90.5% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,255 shares of the exchange traded fund’s stock after selling 11,961 shares during the quarter. Atticus Wealth Management LLC’s holdings in SPDR Gold Shares were worth $478,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of GLD. First Eagle Investment Management LLC lifted its position in SPDR Gold Shares by 1.5% in the second quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock valued at $917,864,000 after buying an additional 35,882 shares during the last quarter. Envestnet Asset Management Inc. boosted its stake in SPDR Gold Shares by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,169,683 shares of the exchange traded fund’s stock worth $430,888,000 after buying an additional 5,793 shares during the period. PPSC Investment Service Corp increased its position in shares of SPDR Gold Shares by 10.0% during the first quarter. PPSC Investment Service Corp now owns 781,981 shares of the exchange traded fund’s stock valued at $336,479,000 after acquiring an additional 70,775 shares during the last quarter. PNC Financial Services Group Inc. increased its position in shares of SPDR Gold Shares by 1.8% during the first quarter. PNC Financial Services Group Inc. now owns 707,998 shares of the exchange traded fund’s stock valued at $304,644,000 after acquiring an additional 12,415 shares during the last quarter. Finally, Diamant Asset Management Inc. increased its position in shares of SPDR Gold Shares by 42,929.0% during the first quarter. Diamant Asset Management Inc. now owns 697,070 shares of the exchange traded fund’s stock valued at $299,942,000 after acquiring an additional 695,450 shares during the last quarter. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Performance

SPDR Gold Shares stock opened at $377.65 on Wednesday. The company’s 50 day simple moving average is $396.43 and its 200-day simple moving average is $399.84. The company has a market capitalization of $139.58 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18. SPDR Gold Shares has a 1 year low of $360.12 and a 1 year high of $509.70.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Institutional buying: Briaud Financial Planning increased its GLD position by 2.9%, purchasing 5,738 additional shares and bringing its holdings to 205,648 shares. The transaction provides a modest positive signal for investor demand. Briaud Financial Planning Buys 5,738 Shares of SPDR Gold Shares
• Positive Sentiment: Long-term demand catalysts: The World Gold Council said tokenized gold could eventually unlock as much as $700 billion in new investment demand, while record ETF holdings indicate continued strategic interest in the metal. Tokenized Gold Could Unlock $700 Billion New Demand
• Neutral Sentiment: Mixed technical and longer-term outlook: Analysts are watching support near $4,000-$4,100 and resistance around $4,217-$4,260. CIBC reduced its near-term gold forecasts but still expects central-bank demand to support a recovery over the longer term. CIBC Slashes Gold Price Forecasts
• Negative Sentiment: Higher yields and Fed expectations: Rising Treasury yields, a firmer dollar and approximately 94% market odds of a December rate hike are discouraging buyers of gold and weighing on GLD. Gold and Silver Price Forecast
• Negative Sentiment: Oil-driven inflation concerns: Rebounding crude prices are increasing inflation worries and keeping additional Fed tightening in focus, contributing to recent declines in gold. Gold Falls Amid Pressure From Rising Crude Prices
• Negative Sentiment: Competitive ETF pressure: Investors reportedly directed roughly $500 million toward a cheaper SPDR gold fund rather than GLD, raising concerns about fee-sensitive flows and potential competition for new assets. Investors Sent $500 Million to the Cheaper SPDR Gold Fund

SPDR Gold Shares 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.