Cogent Private Wealth Inc. Takes Position in SPDR Gold Shares $GLD

Cogent Private Wealth Inc. acquired a new position in shares of SPDR Gold Shares (NYSEARCA:GLD) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 7,450 shares of the exchange traded fund’s stock, valued at approximately $2,953,000. SPDR Gold Shares makes up 2.2% of Cogent Private Wealth Inc.’s investment portfolio, making the stock its 12th biggest holding.

Several other hedge funds and other institutional investors have also bought and sold shares of GLD. Prepared Retirement Institute LLC raised its position in shares of SPDR Gold Shares by 1.6% in the 4th quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock worth $526,000 after acquiring an additional 21 shares in the last quarter. True Vision MN LLC boosted its position in shares of SPDR Gold Shares by 3.2% during the 4th quarter. True Vision MN LLC now owns 768 shares of the exchange traded fund’s stock valued at $304,000 after purchasing an additional 24 shares in the last quarter. Burns J W & Co. Inc. NY grew its stake in SPDR Gold Shares by 0.7% during the fourth quarter. Burns J W & Co. Inc. NY now owns 3,500 shares of the exchange traded fund’s stock worth $1,387,000 after purchasing an additional 25 shares during the period. PFS Partners LLC grew its stake in SPDR Gold Shares by 2.4% during the fourth quarter. PFS Partners LLC now owns 1,078 shares of the exchange traded fund’s stock worth $427,000 after purchasing an additional 25 shares during the period. Finally, Steigerwald Gordon & Koch Inc. increased its holdings in SPDR Gold Shares by 28.7% in the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 112 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 25 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

Key Stories Impacting SPDR Gold Shares

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

• Negative Sentiment: Gold fell from a two-week high as the dollar strengthened and oil prices jumped amid fresh U.S.-Iran strikes, creating a headwind for the metal and for SPDR Gold Shares (GLD). Update: Gold Falls Off a Two-Week High as Oil Rises as the U.S. and Iran Trade Strikes
• Negative Sentiment: Spot gold was lower as crude oil climbed, Treasury yields firmed, and U.S.-Iran negotiations remained unresolved, reinforcing a risk-off but dollar-supportive backdrop that can pressure GLD. Gold falls as oil jumps on U.S.-Iran deadlock – Kitco PM Report
• Negative Sentiment: Better-than-expected U.S. manufacturing data pushed gold lower by supporting Treasury yields and reducing expectations for near-term Fed rate cuts. Spot gold trades near $4,460/oz after ISM Manufacturing PMI rises to 54
• Negative Sentiment: Several market commentary pieces also pointed to a stronger dollar, higher oil, and easing rate-cut bets as reasons gold retreated, which is weighing on GLD sentiment. Gold News: Rising Oil Prices Darken Gold Price Future Before Payrolls

SPDR Gold Shares Stock Performance

Shares of GLD opened at $411.26 on Tuesday. The firm has a market cap of $149.58 billion, a PE ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 52-week low of $299.89 and a 52-week high of $509.70. The business’s 50 day moving average price is $424.95 and its two-hundred day moving average price is $426.83.

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.