Evelyn Partners Asset Management Ltd trimmed its stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 18.3% in the fourth quarter, Holdings Channel reports. The firm owned 69,130 shares of the exchange traded fund’s stock after selling 15,535 shares during the quarter. SPDR Gold Shares comprises approximately 6.4% of Evelyn Partners Asset Management Ltd’s investment portfolio, making the stock its biggest position. Evelyn Partners Asset Management Ltd’s holdings in SPDR Gold Shares were worth $27,397,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of GLD. WPG Advisers LLC bought a new position in shares of SPDR Gold Shares during the 4th quarter worth approximately $25,000. Timmons Wealth Management LLC bought a new position in shares of SPDR Gold Shares during the 4th quarter worth approximately $26,000. Chapman Financial Group LLC bought a new position in shares of SPDR Gold Shares during the 2nd quarter worth approximately $26,000. Vestwell Advisors LLC bought a new position in shares of SPDR Gold Shares during the 3rd quarter worth approximately $27,000. Finally, Eukles Asset Management bought a new position in shares of SPDR Gold Shares during the 4th quarter worth approximately $27,000. 42.19% of the stock is currently owned by institutional investors.
SPDR Gold Shares Trading Up 0.1%
Shares of NYSEARCA GLD opened at $386.54 on Friday. SPDR Gold Shares has a 12 month low of $299.89 and a 12 month high of $509.70. The stock has a 50 day moving average of $421.49 and a 200-day moving average of $427.68. The company has a market capitalization of $140.58 billion, a P/E ratio of -32.43 and a beta of 0.14.
SPDR Gold Shares News Summary
- Positive Sentiment: Gold is showing signs of a rebound after holding major support, suggesting buyers are stepping in after the recent selloff. Gold (XAU/USD) Price Forecast: Failed Breakdown Hints at Rebound
- Positive Sentiment: Safe-haven demand improved as Middle East tensions persisted and U.S.-Iran talk headlines supported a bid for precious metals. Gold and Silver Price Forecast: US-Iran Deal Hopes Lift XAUUSD and XAGUSD
- Positive Sentiment: Gold held key support around $4,000, and analysts said that level may act as a floor as investors cautiously return to the trade. Gold holds key $4,000 support as analysts watch for signs of a bottom
- Neutral Sentiment: The CME plans to offer 24/7 gold trading, which could improve access and liquidity but does not directly change fundamentals. CME to offer 24/7 gold and oil trading
- Neutral Sentiment: Gold remains caught between bargain-hunting support and macro pressure from higher-for-longer rate expectations and stronger U.S. inflation readings. Spot gold at $4,062/oz after U.S. May PPI rises 1.1%, core PPI up 0.4%
- Negative Sentiment: Several reports warn that gold remains under pressure from a stronger dollar, elevated yields, and fears the Fed may keep rates restrictive, which could limit any recovery in GLD. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor
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.
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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).
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