Compass Financial Management LLC Purchases New Shares in SPDR Gold Shares $GLD

Compass Financial Management LLC purchased a new position in SPDR Gold Shares (NYSEARCA:GLD) during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 3,742 shares of the exchange traded fund’s stock, valued at approximately $1,395,000.

Several other institutional investors and hedge funds have also recently bought and sold shares of GLD. City Holding Co. raised its holdings in SPDR Gold Shares by 41.6% during the second quarter. City Holding Co. now owns 22,914 shares of the exchange traded fund’s stock valued at $8,441,000 after buying an additional 6,733 shares in the last quarter. DDFG Inc boosted its stake in shares of SPDR Gold Shares by 57.5% during the 2nd quarter. DDFG Inc now owns 48,753 shares of the exchange traded fund’s stock worth $17,959,000 after acquiring an additional 17,793 shares in the last quarter. Crescent Grove Advisors LLC increased its holdings in shares of SPDR Gold Shares by 25.3% during the 4th quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock valued at $6,230,000 after acquiring an additional 3,175 shares during the last quarter. Arcus Capital Partners LLC increased its holdings in shares of SPDR Gold Shares by 90.3% during the 1st quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock valued at $3,633,000 after acquiring an additional 4,005 shares during the last quarter. Finally, Cidel Asset Management Inc. raised its stake in shares of SPDR Gold Shares by 69.8% in the 1st quarter. Cidel Asset Management Inc. now owns 3,368 shares of the exchange traded fund’s stock valued at $1,449,000 after acquiring an additional 1,384 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold prices advanced as concerns about the sustainability of U.S. government debt revived the “debasement trade.” A Bank of America survey found that speculative investors raised bullish gold positions for a third consecutive week, while many respondents viewed gold as undervalued. BofA survey says gold is undervalued and bullish speculative interest picks up
• Positive Sentiment: A weaker U.S. dollar, Treasury buyback plans and reported record exchange-traded-fund inflows are keeping buyers active and supporting expectations that gold’s breakout can continue. Gold ETF inflows confirm market breakout after buyback plan
• Positive Sentiment: Gold remained firm despite elevated Treasury yields, supported by fiscal-risk hedging, dollar weakness and lingering geopolitical uncertainty. The metal’s move above its 200-day moving average is also a positive technical signal for GLD. Gold nears $4,660 as PCE and Jackson Hole frame Fed trade
• Neutral Sentiment: Near-term direction may depend on upcoming inflation data and Federal Reserve commentary. Sticky inflation or a renewed prospect of rate hikes could interrupt gold’s rally by supporting yields and the dollar. Gold rally depends on sustained investment demand and Fed inflation response
• Neutral Sentiment: A large transaction involving the sale of nearly 116,000 GLD call options expiring September 18 could signal caution about near-term upside, although its investor and market-making implications are uncertain. A massive trade just happened in gold options
• Negative Sentiment: Investors holding GLD in taxable accounts should note that long-term gains may be taxed at the 28% collectibles rate rather than the lower rate commonly associated with other ETFs, potentially reducing after-tax returns. GLD gains are taxed as a collectible

SPDR Gold Shares Stock Performance

Shares of GLD stock opened at $426.69 on Tuesday. The stock’s 50 day simple moving average is $383.48 and its 200 day simple moving average is $417.22. SPDR Gold Shares has a twelve month low of $309.67 and a twelve month high of $509.70. The company has a market capitalization of $150.66 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

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.