Wells Financial Advisors INC Sells 5,523 Shares of SPDR Gold Shares $GLD

Wells Financial Advisors INC lessened its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 55.8% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,370 shares of the exchange traded fund’s stock after selling 5,523 shares during the period. SPDR Gold Shares accounts for about 8.6% of Wells Financial Advisors INC’s investment portfolio, making the stock its 2nd biggest holding. Wells Financial Advisors INC’s holdings in SPDR Gold Shares were worth $1,880,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Calder Financial LLC bought a new stake in SPDR Gold Shares during the fourth quarter worth approximately $807,000. Crescent Grove Advisors LLC lifted its position in SPDR Gold Shares by 25.3% in the fourth quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock worth $6,230,000 after purchasing an additional 3,175 shares during the period. Arcus Capital Partners LLC boosted its stake in 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 purchasing an additional 4,005 shares in the last quarter. Cidel Asset Management Inc. boosted its stake in SPDR Gold Shares by 69.8% during 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 purchasing an additional 1,384 shares in the last quarter. Finally, Ervin Investment Management LLC acquired a new position in shares of SPDR Gold Shares during the 4th quarter valued at $7,178,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Performance

GLD opened at $368.41 on Monday. SPDR Gold Shares has a one year low of $300.95 and a one year high of $509.70. The stock’s fifty day moving average is $393.74 and its 200-day moving average is $424.88. The company has a market capitalization of $129.31 billion, a PE ratio of -32.43 and a beta of 0.17.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold briefly rebounded near $4,000/oz after softer U.S. inflation expectations and stronger consumer sentiment, which can support demand for safe-haven assets. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Positive Sentiment: Some analysts say the broader gold bull market is not over and that central-bank buying remains a structural support for prices over the long term. Gold Rises; Central Bank Buying Likely to Remain Structural Driver
• Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and product choice in the gold ETF space. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold has slipped to an eight-month low and is struggling to hold support, with traders focused on bearish technical levels near $3,942 and below. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Stronger U.S. economic data, rising Treasury yields, and a firmer dollar have reduced demand for gold as a defensive asset. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report
• Negative Sentiment: SPDR Gold Shares has seen heavy investor outflows since March, signaling fading appetite for GLD amid gold’s pullback. Largest U.S. gold ETF sees 14 billion in outflows since March, amid gold’s year-to-date pullback

About SPDR Gold Shares

(Free Report)

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.

Recommended Stories

• Five stocks we like better than SPDR Gold Shares
• Strait of Hormuz Tensions Spike Tanker Trade: These 2 Stocks Are Set to Benefit
• Shopify’s Quiet AI Strategy Could Be Its Biggest Advantage Yet
• Why These 3 Nuclear ETFs Are Getting a Fresh Look as AI Power Demand Rises
• 3 Aerospace Suppliers That Could Benefit as Aircraft Makers Face Bottlenecks

Want to see what other hedge funds are holding GLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR Gold Shares (NYSEARCA:GLD – Free Report).