Kelleher Financial Advisors Sells 3,971 Shares of SPDR Gold Shares $GLD

Kelleher Financial Advisors lessened its stake in SPDR Gold Shares (NYSEARCA:GLD) by 52.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,636 shares of the exchange traded fund’s stock after selling 3,971 shares during the quarter. Kelleher Financial Advisors’ holdings in SPDR Gold Shares were worth $1,385,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in GLD. Provenance Wealth Advisors LLC raised its position in shares of SPDR Gold Shares by 66.5% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 4,234 shares of the exchange traded fund’s stock worth $1,612,000 after purchasing an additional 1,691 shares during the last quarter. One Day In July LLC raised its holdings in shares of SPDR Gold Shares by 1.3% during the third quarter. One Day In July LLC now owns 2,724 shares of the exchange traded fund’s stock valued at $1,037,000 after acquiring an additional 35 shares during the last quarter. Integras Partners LLC acquired a new position in shares of SPDR Gold Shares during the third quarter valued at approximately $249,000. Lyell Wealth Management LP raised its stake in SPDR Gold Shares by 2.6% in the 3rd quarter. Lyell Wealth Management LP now owns 35,786 shares of the exchange traded fund’s stock valued at $13,629,000 after purchasing an additional 897 shares during the last quarter. Finally, Associated Banc Corp purchased a new stake in shares of SPDR Gold Shares during the third quarter worth $11,814,000. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Democratic election victories coincided with a weaker U.S. dollar and lower Treasury yields, making gold more attractive and prompting renewed buying. Gold also benefited from safe-haven demand and falling oil prices. Gold and silver surge as Democratic midterm sweep drives dollar, yields lower
• Positive Sentiment: Longer-term support comes from strong investment demand and central-bank purchases, which rose 42% according to the World Gold Council. Gold demand remains near record highs as central bank buying surges 42%
• Neutral Sentiment: Gold’s election-driven rebound reclaimed the $4,000-per-ounce level, but analysts say it still needs to clear technical resistance to confirm a stronger recovery. Gold was later flat in early Asian trading after the sharp rise. Gold price forecast: Post-election rally tests critical resistance
• Negative Sentiment: Stronger-than-expected employment and services activity, persistent inflation, and rising real yields could support a more restrictive Federal Reserve stance and renew pressure on gold. Investors are watching Friday’s jobs report and the Fed for clues. Gold rebounds, but remains vulnerable ahead of jobs report

SPDR Gold Shares Stock Up 3.7%

Shares of NYSEARCA GLD opened at $372.49 on Thursday. The stock has a market capitalization of $136.00 billion, a price-to-earnings ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a 52 week low of $354.67 and a 52 week high of $509.70. The firm has a 50-day simple moving average of $386.88 and a 200-day simple moving average of $412.08.

SPDR Gold Shares 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.