SPDR Gold Shares $GLD Stock Acquired by Three Bridge Wealth Advisors LLC

Three Bridge Wealth Advisors LLC grew its position in shares of SPDR Gold Shares (NYSEARCA:GLD) by 5.0% in the 3rd quarter, Holdings Channel.com reports. The firm owned 40,698 shares of the exchange traded fund’s stock after buying an additional 1,927 shares during the period. SPDR Gold Shares comprises approximately 3.3% of Three Bridge Wealth Advisors LLC’s portfolio, making the stock its 9th biggest holding. Three Bridge Wealth Advisors LLC’s holdings in SPDR Gold Shares were worth $15,499,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in GLD. First Eagle Investment Management LLC boosted its holdings in 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 buying an additional 35,882 shares in the last quarter. Envestnet Asset Management Inc. grew its position in 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 buying an additional 5,793 shares during the period. PPSC Investment Service Corp grew its position in SPDR Gold Shares by 2.2% during 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 buying an additional 16,678 shares during the period. PNC Financial Services Group Inc. grew its position in 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 buying an additional 12,415 shares during the period. Finally, Bank of Korea purchased a new position in SPDR Gold Shares in the second quarter valued at $250,411,831. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

GLD opened at $365.17 on Thursday. The company has a fifty day moving average of $382.96 and a two-hundred day moving average of $410.33. The stock has a market capitalization of $128.69 billion, a price-to-earnings ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a fifty-two week low of $354.67 and a fifty-two week high of $509.70.

Key Headlines Impacting SPDR Gold Shares

Investors following GLD have been watching these headlines:

• Positive Sentiment: Some analysts still see scope for a recovery: Standard Chartered expects gold to reach $4,650 by year-end, while early-session bargain buying and short covering briefly supported prices. Gold prices find solid support at $4,000 as Standard Chartered sees rally to $4,650 by year-end
• 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 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.