Silver Oak Securities Incorporated Sells 5,968 Shares of SPDR Gold Shares $GLD

Silver Oak Securities Incorporated lessened its stake in SPDR Gold Shares (NYSEARCA:GLD) by 26.2% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,806 shares of the exchange traded fund’s stock after selling 5,968 shares during the period. Silver Oak Securities Incorporated’s holdings in SPDR Gold Shares were worth $7,231,000 as of its most recent SEC filing.

Other large investors have also recently bought and sold shares of the company. Prepared Retirement Institute LLC increased its stake 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 valued at $526,000 after buying an additional 21 shares during the period. Hughes Financial Services LLC lifted its stake in shares of SPDR Gold Shares by 3.4% during the fourth quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock valued at $264,000 after acquiring an additional 22 shares during the period. True Vision MN LLC lifted its stake in shares of SPDR Gold Shares by 3.2% during the fourth quarter. True Vision MN LLC now owns 768 shares of the exchange traded fund’s stock valued at $304,000 after acquiring an additional 24 shares during the period. Burns J W & Co. Inc. NY lifted its stake in shares of 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 valued at $1,387,000 after acquiring an additional 25 shares during the period. Finally, PFS Partners LLC boosted its holdings in SPDR Gold Shares by 2.4% in the fourth quarter. PFS Partners LLC now owns 1,078 shares of the exchange traded fund’s stock valued at $427,000 after acquiring an additional 25 shares during 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:

• Positive Sentiment: Gold-backed ETFs saw their biggest weekly inflow since April, suggesting some investors are buying the dip in bullion exposure even after several weeks of outflows. Gold ETFs Just Saw Their Biggest Weekly Inflow Since April After $7.6 Billion Exodus
• Neutral Sentiment: Some analysts still argue the long-term gold bull market is not necessarily over, even though the metal is in a deep correction and struggling to hold key support around $4,000 an ounce. Gold’s 28% correction is painful, but history suggests the bull market isn’t over
• Neutral Sentiment: China’s gold imports hit a 26-month high in May, showing strong physical demand in the world’s largest gold market despite the recent price decline. China gold imports hit 26-month high in May, up 76% YTD
• Negative Sentiment: Gold broke below long-term support and key technical levels, raising the risk of a deeper correction and reinforcing the near-term bearish trend for GLD. Gold (XAU/USD) Price Forecast: Breakdown Signals Risk of Deeper Correction
• Negative Sentiment: Several reports say gold has slipped below $4,000 an ounce, with banks cutting forecasts as a stronger dollar, higher yields, and reduced safe-haven demand weigh on prices. ING Cuts Gold and Silver Forecasts as Rising Yields and Stronger Dollar Weigh on Prices
• Negative Sentiment: Gold fell to a seven-month low as the dollar strengthened on inflation and Fed-policy worries, which is the main reason GLD is trading lower today. Update: Gold Falls to a Seven-Month Low as the Dollar Climbs on Inflation Worries

SPDR Gold Shares Stock Down 3.0%

Shares of GLD stock opened at $365.92 on Thursday. The stock has a 50-day moving average price of $413.92 and a 200 day moving average price of $428.01. The firm has a market cap of $133.09 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a 12 month low of $299.89 and a 12 month high of $509.70.

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.