Kathmere Capital Management LLC cut its holdings in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 70.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,190 shares of the exchange traded fund’s stock after selling 7,494 shares during the period. Kathmere Capital Management LLC’s holdings in SPDR Gold Shares were worth $1,373,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds also recently modified their holdings of the business. Prepared Retirement Institute LLC grew its stake in SPDR Gold Shares by 1.6% in the 4th quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock valued at $526,000 after purchasing an additional 21 shares during the period. Hughes Financial Services LLC raised its stake in shares of SPDR Gold Shares by 3.4% during the 4th quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock worth $264,000 after purchasing an additional 22 shares during the period. True Vision MN LLC raised its stake in shares of SPDR Gold Shares by 3.2% during the 4th quarter. True Vision MN LLC now owns 768 shares of the exchange traded fund’s stock worth $304,000 after purchasing an additional 24 shares during the period. Burns J W & Co. Inc. NY boosted its holdings in shares of SPDR Gold Shares by 0.7% in the 4th quarter. Burns J W & Co. Inc. NY now owns 3,500 shares of the exchange traded fund’s stock worth $1,387,000 after buying an additional 25 shares during the last quarter. Finally, PFS Partners LLC boosted its holdings in shares of SPDR Gold Shares by 2.4% in the 4th quarter. PFS Partners LLC now owns 1,078 shares of the exchange traded fund’s stock worth $427,000 after buying an additional 25 shares during the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.
SPDR Gold Shares Stock Down 0.2%
GLD traded down $0.65 during trading on Tuesday, hitting $381.48. 1,373,349 shares of the company traded hands, compared to its average volume of 12,994,864. The firm has a market cap of $134.28 billion, a P/E ratio of -32.43 and a beta of 0.17. The stock’s fifty day moving average is $404.49 and its 200 day moving average is $427.13. SPDR Gold Shares has a one year low of $300.95 and a one year high of $509.70.
Trending Headlines about SPDR Gold Shares
- Positive Sentiment: Weak June jobs data is reinforcing bets on a more dovish Fed, which is lifting demand for gold and gold-backed ETFs like GLD. Weak June Jobs Data Likely to Boost These ETF Areas
- Positive Sentiment: Gold rose to a two-week high as Treasury yields eased and inflation concerns softened, a bullish backdrop for GLD. Update: Gold Rises to a Two-Week High on Easing Inflation Concerns
- Positive Sentiment: Market commentary says gold ETFs are back in focus as weaker jobs data and a softer dollar support bullion, which could help GLD see more inflows. Gold ETFs Back in Focus as Weak Jobs Data Softer Dollar Boost Bullion Rally
- Positive Sentiment: Analysts continue to argue the long-term setup for gold remains constructive, with central bank buying and constrained mine supply supporting prices. Natixis Sticks with $4,600 Gold Target as Central Banks Prepare to Ramp Up Buying
- Neutral Sentiment: Gold is still facing technical resistance and near-term choppiness ahead of Fed minutes and other macro data, which may limit upside until markets get clearer policy signals. Gold (XAUUSD) & Silver Price Forecast: Gold Breaks Trendline at $4,127 as Silver Holds $60.69 Ahead of FOMC — Next Move?
- Neutral Sentiment: Some reports note gold has been retreating or struggling around resistance near $4,200, suggesting volatility could persist even as the broader trend improves. Gold Price Continues Struggle as U.S. ISM Services PMI Falls to 54
- Negative Sentiment: Gold also slipped in early trading as investors waited for Fed minutes and the dollar firmed, showing the ETF can still face short-term pressure from macro uncertainty. Gold Falls as Investors Await Fed Minutes
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.
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