J.Safra Asset Management Corp grew its stake in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 10.9% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 82,965 shares of the exchange traded fund’s stock after purchasing an additional 8,122 shares during the quarter. SPDR Gold Shares comprises about 1.4% of J.Safra Asset Management Corp’s portfolio, making the stock its 16th biggest holding. J.Safra Asset Management Corp’s holdings in SPDR Gold Shares were worth $30,563,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors and hedge funds also recently made changes to their positions in GLD. City Holding Co. raised its stake in SPDR Gold Shares by 41.6% in the 2nd quarter. City Holding Co. now owns 22,914 shares of the exchange traded fund’s stock valued at $8,441,000 after acquiring an additional 6,733 shares during the period. DDFG Inc boosted its position in SPDR Gold Shares by 57.5% during the second quarter. DDFG Inc now owns 48,753 shares of the exchange traded fund’s stock worth $17,959,000 after purchasing an additional 17,793 shares during the period. Crescent Grove Advisors LLC boosted its position in SPDR Gold Shares by 25.3% during 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 increased its holdings in shares of SPDR Gold Shares by 90.3% in the first 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 during the last quarter. Finally, Cidel Asset Management Inc. increased its holdings in shares of SPDR Gold Shares by 69.8% in the first 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 during the last quarter. Institutional investors own 42.19% of the company’s stock.
SPDR Gold Shares News Summary
Here are the key news stories impacting SPDR Gold Shares this week:
- Positive Sentiment: Gold climbed back above $4,600 per ounce after the Treasury expanded long-duration bond buybacks. Investors interpreted the move as an effort to contain borrowing costs, pressuring the dollar and supporting non-yielding assets such as gold. Gold Above $4,600 on Weaker Dollar, Debt Fears
- Positive Sentiment: Gold is heading toward a weekly gain of roughly 5%, aided by bond-market jitters, fiscal concerns and dollar weakness. Technical momentum also improved as bullion moved above its 200-day moving average and key resistance levels. Gold rebounds as bond jitters, debt fears and weaker dollar revive bullion demand
- Positive Sentiment: Ray Dalio recommended reducing bond exposure and increasing allocations to gold and Bitcoin, arguing that recent Treasury actions indicate a debt crisis may be approaching. The comments reinforce the safe-haven investment case for GLD. Ray Dalio recommends gold and bitcoin
- Positive Sentiment: Unusually heavy bullish options activity signals increased speculative interest in GLD, with call-option volume about 76% above its average. Traders purchase GLD call options
- Neutral Sentiment: Next week’s July PCE inflation report and Federal Reserve Chair Kevin Warsh’s Jackson Hole speech could drive volatility by changing expectations for interest rates and the dollar. Gold looks to PCE inflation and Jackson Hole
- Negative Sentiment: Stronger-than-expected U.S. economic data, including an August composite PMI of 56.0, could support the dollar and reduce expectations for Federal Reserve easing, creating a potential short-term headwind for gold and GLD. Spot gold holds above $4,585
SPDR Gold Shares Price Performance
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.
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