Staley Capital Advisers Inc. Lowers Position in SPDR Gold Shares $GLD

Staley Capital Advisers Inc. decreased its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 6.3% during the fourth quarter, HoldingsChannel reports. The fund owned 170,619 shares of the exchange traded fund’s stock after selling 11,533 shares during the quarter. SPDR Gold Shares comprises about 2.8% of Staley Capital Advisers Inc.’s investment portfolio, making the stock its 9th biggest holding. Staley Capital Advisers Inc.’s holdings in SPDR Gold Shares were worth $67,618,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Guardian Capital LLC bought a new stake in SPDR Gold Shares during the 4th quarter valued at $2,020,000. May Hill Capital LLC bought a new stake in SPDR Gold Shares during the 4th quarter valued at $311,000. Beese Fulmer Investment Management Inc. grew its stake in SPDR Gold Shares by 0.8% during the fourth quarter. Beese Fulmer Investment Management Inc. now owns 6,125 shares of the exchange traded fund’s stock valued at $2,427,000 after acquiring an additional 50 shares in the last quarter. Accredited Investors Inc. increased its holdings in SPDR Gold Shares by 43.1% during the 4th quarter. Accredited Investors Inc. now owns 966 shares of the exchange traded fund’s stock worth $383,000 after acquiring an additional 291 shares during the period. Finally, Stephens Inc. AR increased its holdings in SPDR Gold Shares by 2.7% during the 4th quarter. Stephens Inc. AR now owns 32,433 shares of the exchange traded fund’s stock worth $12,991,000 after acquiring an additional 850 shares during the period. Institutional investors own 42.19% of the company’s stock.

More SPDR Gold Shares News

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

• Negative Sentiment: Gold fell further late Friday as the dollar and Treasury yields strengthened, with traders focused on whether the metal can hold the key $4,500 support zone. Silver dives below $76, gold tests $4,500 support as Iran risk drives oil, rate fears – Kitco PM Report
• Negative Sentiment: Technical commentary pointed to a bearish breakdown in gold, raising the risk of a deeper pullback toward major support levels. Gold (XAU/USD) Price Forecast: Bearish Breakdown Targets Major Support
• Negative Sentiment: Market reports said gold broke below $4,600 as rising yields and dollar strength outweighed traditional safe-haven demand. Gold breaks below $4,600 as dollar, yields overpower haven demand – Kitco AM Report
• Negative Sentiment: Additional commentary highlighted that hotter inflation data and a rally in the dollar have weakened bullish momentum in gold. Update: Gold Falls as the USD and Treasury Yields Surge on Inflation Worries
• Neutral Sentiment: Some analysts still noted strong long-term demand from central banks and continued interest in gold ETFs, which could help limit downside over time. Central Banks Are Snapping Up Gold, ETF Investors Are Just Waking Up: The Best Gold ETFs to Own Before It Hits $5,000

SPDR Gold Shares Trading Down 2.3%

SPDR Gold Shares stock opened at $417.29 on Friday. SPDR Gold Shares has a 1-year low of $291.78 and a 1-year high of $509.70. The firm has a market capitalization of $151.77 billion, a PE ratio of -32.43 and a beta of 0.15. The firm’s 50 day simple moving average is $435.54 and its 200 day simple moving average is $422.92.

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.