SPDR Gold Shares $GLD Stock Acquired by Csenge Advisory Group

Csenge Advisory Group grew its stake in SPDR Gold Shares (NYSEARCA:GLD) by 8.3% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 63,833 shares of the exchange traded fund’s stock after buying an additional 4,886 shares during the quarter. SPDR Gold Shares accounts for about 0.9% of Csenge Advisory Group’s portfolio, making the stock its 21st largest holding. Csenge Advisory Group’s holdings in SPDR Gold Shares were worth $24,310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of GLD. City Holding Co. boosted its position in SPDR Gold Shares by 41.6% in the 2nd quarter. City Holding Co. now owns 22,914 shares of the exchange traded fund’s stock worth $8,441,000 after purchasing an additional 6,733 shares in the last quarter. DDFG Inc grew its stake in shares of SPDR Gold Shares by 57.5% during the 2nd quarter. DDFG Inc now owns 48,753 shares of the exchange traded fund’s stock worth $17,959,000 after purchasing an additional 17,793 shares during the period. Arcus Capital Partners LLC increased its holdings in shares of SPDR Gold Shares by 90.3% during the 1st quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock valued at $3,633,000 after purchasing an additional 4,005 shares in the last quarter. Wellington Management Group LLP increased its holdings in shares of SPDR Gold Shares by 20.8% during the 2nd quarter. Wellington Management Group LLP now owns 80,567 shares of the exchange traded fund’s stock valued at $29,679,000 after purchasing an additional 13,877 shares in the last quarter. Finally, Lotus Asset Management LLC purchased a new position in shares of SPDR Gold Shares during the 2nd quarter valued at approximately $638,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

GLD opened at $369.36 on Wednesday. The firm has a fifty day moving average price of $383.59 and a 200 day moving average price of $410.80. SPDR Gold Shares has a 1 year low of $354.67 and a 1 year high of $509.70. The stock has a market cap of $134.78 billion, a P/E ratio of -32.43 and a beta of 0.20.

SPDR Gold Shares News Summary

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

• Positive Sentiment: China continued adding to its gold reserves, extending its buying streak to a second year. Ongoing central-bank purchases may help support gold demand and GLD over the longer term. China buys gold for two straight years as central bank demand remains a key pillar of support
• Positive Sentiment: Gold edged higher in early Asian trading after a sharp overnight drop, which one report described as a likely technical rebound. This could provide short-term support, though it does not reverse the pressure from inflation and rate expectations. Gold Edges Higher in Likely Technical Rebound
• Neutral Sentiment: A Fed economist said recent central-bank gold repatriations have had little effect on those countries’ U.S. dollar reserve allocations. The report offers context on gold demand but does not point to a clear near-term change in GLD’s outlook. Gold reserve repatriations don’t mean central banks are de-dollarizing – Fed’s Weiss
• Negative Sentiment: Hotter U.S. CPI drove gold sharply lower and increased expectations for a December Fed rate hike, with the possibility of a larger adjustment also raised. Higher yields and a stronger dollar are headwinds for bullion and GLD. Gold, silver plunge as hotter U.S. inflation raises prospect of larger Fed rate hike
• Negative Sentiment: SPDR Gold Shares reportedly saw about $1.8 billion in outflows in October. Continued withdrawals could weigh on demand for the fund, even as gold-mining stocks attract investor interest. Forget the ETF Outflows: Gold Miners Offer 3X Leverage As Cash Flow Surges

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.