ACT Wealth Management LLC Grows Holdings in SPDR Gold Shares $GLD

ACT Wealth Management LLC boosted its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 21.8% in the third quarter, Holdings Channel reports. The firm owned 47,383 shares of the exchange traded fund’s stock after purchasing an additional 8,495 shares during the period. SPDR Gold Shares accounts for 5.4% of ACT Wealth Management LLC’s investment portfolio, making the stock its 8th biggest holding. ACT Wealth Management LLC’s holdings in SPDR Gold Shares were worth $18,045,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of GLD. Corient Private Wealth LLC boosted its position in shares of SPDR Gold Shares by 571.3% during the fourth 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. First Eagle Investment Management LLC increased its position in shares of SPDR Gold Shares by 1.5% in the 2nd 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 in the last quarter. Virtu Financial LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter valued at $474,952,000. Marino Management LLC acquired a new stake in SPDR Gold Shares during the 4th quarter worth $438,475,000. Finally, Envestnet Asset Management Inc. raised its stake in SPDR Gold Shares by 0.5% during the 2nd 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. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Trading Up 0.7%

NYSEARCA:GLD opened at $378.62 on Friday. SPDR Gold Shares has a 1 year low of $360.12 and a 1 year high of $509.70. The stock has a market cap of $140.24 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18. The stock has a 50-day moving average price of $397.47 and a two-hundred day moving average price of $401.79.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold is receiving support from a weaker dollar and a pullback in Treasury yields, improving the appeal of non-yielding bullion and potentially benefiting GLD. Gold, Silver, Platinum Forecasts – Gold Attempts to Rebound as Treasury Yields Pull Back
• Positive Sentiment: Analysts at Sprott say gold’s resilience despite elevated bond yields, renewed ETF inflows and central banks’ continued retreat from dollar assets support a longer-term bullish outlook. Gold Gains Ground as Central Banks Retreat from Dollar Assets and Inflation Undermines Bonds
• Positive Sentiment: China’s central bank added 21 tonnes of gold in September, extending its buying streak to 23 consecutive months and providing an important source of underlying demand. China’s Central Bank Buys 21 Tonnes of Gold in September
• Positive Sentiment: Longer-term bullish arguments remain intact, including central-bank diversification, inflation concerns and portfolio demand, making the recent decline a potential accumulation opportunity for some investors. Gold ETF Down 13% in Six Months: Four Bullish Reasons for the Long Term
• Neutral Sentiment: Gold is testing major Fibonacci and trendline support around $4,100-$4,103. Holding that zone could produce a double bottom or bullish wedge breakout, while a decisive break lower would signal additional downside for GLD. Gold Price Forecast: $4,103 Support Holds Key to Next Move
• Negative Sentiment: Federal Reserve communications and meeting minutes kept the possibility of another rate hike alive. Stronger-than-expected jobless-claims data also reduced expectations for rapid policy easing, pressuring gold through higher-rate concerns. Fed Minutes Weigh on Gold as It Tests $4,100
• Negative Sentiment: Recent gains in Treasury yields and the dollar have reduced demand for gold, leaving the metal vulnerable to further losses if rates remain elevated. Gold Falls as Higher Yields and Stronger Dollar Weigh

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.