Kelleher Financial Advisors Buys 3,820 Shares of SPDR Gold Shares $GLD

Kelleher Financial Advisors raised its stake in SPDR Gold Shares (NYSEARCA:GLD) by 100.9% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,607 shares of the exchange traded fund’s stock after buying an additional 3,820 shares during the period. Kelleher Financial Advisors’ holdings in SPDR Gold Shares were worth $2,802,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC raised its position in SPDR Gold Shares by 20.4% in the fourth quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock valued at $2,723,000 after purchasing an additional 1,903 shares during the last quarter. Bison Wealth LLC boosted its stake in shares of SPDR Gold Shares by 77.8% during the fourth quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after purchasing an additional 2,600 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new stake in shares of SPDR Gold Shares during the first quarter worth about $16,014,000. Schnieders Capital Management LLC. grew its holdings in shares of SPDR Gold Shares by 4.8% during the second quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock worth $1,829,000 after purchasing an additional 275 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in shares of SPDR Gold Shares in the second quarter valued at approximately $337,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

SPDR Gold Shares stock opened at $423.36 on Friday. The business has a 50 day moving average of $382.88 and a 200-day moving average of $417.49. The company has a market capitalization of $149.49 billion, a P/E ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 1 year low of $306.43 and a 1 year high of $509.70.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold climbed back above $4,600 per ounce after the Treasury expanded long-duration bond buybacks. Investors interpreted the move as an effort to contain borrowing costs, pressuring the dollar and supporting non-yielding assets such as gold. Gold Above $4,600 on Weaker Dollar, Debt Fears
• Positive Sentiment: Gold is heading toward a weekly gain of roughly 5%, aided by bond-market jitters, fiscal concerns and dollar weakness. Technical momentum also improved as bullion moved above its 200-day moving average and key resistance levels. Gold rebounds as bond jitters, debt fears and weaker dollar revive bullion demand
• Positive Sentiment: Ray Dalio recommended reducing bond exposure and increasing allocations to gold and Bitcoin, arguing that recent Treasury actions indicate a debt crisis may be approaching. The comments reinforce the safe-haven investment case for GLD. Ray Dalio recommends gold and bitcoin
• Positive Sentiment: Unusually heavy bullish options activity signals increased speculative interest in GLD, with call-option volume about 76% above its average. Traders purchase GLD call options
• Neutral Sentiment: Next week’s July PCE inflation report and Federal Reserve Chair Kevin Warsh’s Jackson Hole speech could drive volatility by changing expectations for interest rates and the dollar. Gold looks to PCE inflation and Jackson Hole
• Negative Sentiment: Stronger-than-expected U.S. economic data, including an August composite PMI of 56.0, could support the dollar and reduce expectations for Federal Reserve easing, creating a potential short-term headwind for gold and GLD. Spot gold holds above $4,585

SPDR Gold Shares Company 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.