SPDR Gold Shares $GLD Stock Sold by Lodestar Private Asset Management LLC

Lodestar Private Asset Management LLC trimmed its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 11.7% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 11,276 shares of the exchange traded fund’s stock after selling 1,491 shares during the quarter. Lodestar Private Asset Management LLC’s holdings in SPDR Gold Shares were worth $4,294,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GLD. Bryant Woods Investment Advisors LLC purchased a new position in shares of SPDR Gold Shares in the third quarter worth $729,000. Abundance Wealth Counselors grew its stake in SPDR Gold Shares by 33.7% during the third quarter. Abundance Wealth Counselors now owns 1,063 shares of the exchange traded fund’s stock valued at $405,000 after acquiring an additional 268 shares in the last quarter. Center for Financial Planning Inc. grew its stake in SPDR Gold Shares by 33.5% during the third quarter. Center for Financial Planning Inc. now owns 964 shares of the exchange traded fund’s stock valued at $367,000 after acquiring an additional 242 shares in the last quarter. Park Avenue Securities LLC grew its stake in SPDR Gold Shares by 0.4% during the third quarter. Park Avenue Securities LLC now owns 36,943 shares of the exchange traded fund’s stock valued at $14,069,000 after acquiring an additional 149 shares in the last quarter. Finally, WESPAC Advisors LLC grew its stake in SPDR Gold Shares by 41.4% during the third quarter. WESPAC Advisors LLC now owns 2,383 shares of the exchange traded fund’s stock valued at $908,000 after acquiring an additional 698 shares in the last quarter. 42.19% of the stock is currently owned by institutional investors.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold rebounded as declining oil prices reduced inflation fears and encouraged renewed buying in precious metals ahead of the Fed meeting. A dovish Fed signal could provide additional support for GLD. Gold climbs above $4,050 as Wall Street rallies ahead of Fed decision
• Positive Sentiment: Weak U.S. new-home sales are reinforcing safe-haven demand and raising concerns about economic growth, which may benefit gold and GLD. Gold prices holding above $4,000 as U.S. new home sales fall
• Positive Sentiment: State Street said gold could recover substantially, potentially reaching $5,500 by early next year, while recent declines have pushed the market toward oversold conditions. Downside risks are building in gold, but prices still have a path to $5,000
• Neutral Sentiment: Gold briefly benefited from stronger consumer confidence, which lifted prices toward the session high, but the data could also support higher interest rates and limit future gains. Gold price shoots to session high after Consumer Confidence rises
• Negative Sentiment: Analysts warn that gold must establish a floor near $4,000 or risk a deeper correction after its two-month decline. Persistent inflation and expectations for another Fed rate increase are weighing on the metal. Gold price needs to build a floor here or face a deeper correction
• Negative Sentiment: Short interest in GLD rose 71.8% during October to 15.4 million shares, signaling increased bearish positioning, although the 2.1-day days-to-cover ratio leaves some potential for short-covering if gold continues higher.

SPDR Gold Shares Stock Performance

Shares of NYSEARCA GLD opened at $372.28 on Wednesday. The company has a market cap of $138.08 billion, a P/E ratio of -32.43 and a beta of 0.18. The firm’s fifty day moving average is $393.17 and its two-hundred day moving average is $413.72. SPDR Gold Shares has a 52-week low of $360.12 and a 52-week 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.