15,478 SPDR Gold Shares $GLD Shares Sold by Fifth Third Bancorp

Fifth Third Bancorp decreased its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 5.4% during the 3rd quarter, Holdings Channel reports. The institutional investor owned 270,812 shares of the exchange traded fund’s stock after selling 15,478 shares during the quarter. Fifth Third Bancorp’s holdings in SPDR Gold Shares were worth $103,136,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. First Eagle Investment Management LLC raised its position in shares of SPDR Gold Shares by 1.5% during the second quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock worth $917,864,000 after acquiring an additional 35,882 shares during the last quarter. Envestnet Asset Management Inc. lifted its stake in shares of SPDR Gold Shares by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,169,683 shares of the exchange traded fund’s stock valued at $430,888,000 after acquiring an additional 5,793 shares during the period. PNC Financial Services Group Inc. lifted its stake in shares of SPDR Gold Shares by 1.8% during the first quarter. PNC Financial Services Group Inc. now owns 707,998 shares of the exchange traded fund’s stock valued at $304,644,000 after acquiring an additional 12,415 shares during the period. PPSC Investment Service Corp boosted its holdings in SPDR Gold Shares by 2.2% in the third quarter. PPSC Investment Service Corp now owns 789,050 shares of the exchange traded fund’s stock valued at $300,502,000 after acquiring an additional 16,678 shares during the last quarter. Finally, Bank of Korea bought a new position in SPDR Gold Shares in the second quarter valued at about $250,411,831. 42.19% of the stock is currently owned by institutional investors.

More SPDR Gold Shares News

These are some of the GLD news items that stood out recently:

• Neutral Sentiment: Ongoing central-bank gold purchases, including China’s continued reserve increases, may provide longer-term support, though they have not offset current selling pressure. China buys gold for two straight years as central bank demand remains a key pillar of support
• Negative Sentiment: Hotter-than-expected U.S. inflation has raised expectations for further Fed tightening, pushing the dollar and real yields higher. Those factors make non-yielding gold less attractive; analysts warn that a sustained break below support could open the way toward $3,900. Gold falls below $4,000 as dollar surges, Fed hike bets rise
• Negative Sentiment: Investor flows have also been a headwind: SPDR Gold Shares reportedly saw about $1.8 billion in outflows in October, while Indian gold ETF inflows fell 22% that month. Forget the ETF Outflows: Gold Miners Offer 3X Leverage As Cash Flow Surges

SPDR Gold Shares Stock Down 1.1%

Shares of GLD stock opened at $365.17 on Thursday. The stock has a 50-day moving average price of $382.96 and a 200 day moving average price of $410.33. The firm has a market cap of $128.69 billion, a price-to-earnings ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a 12 month low of $354.67 and a 12 month high of $509.70.

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.