Susquehanna International Group LLP acquired a new stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) during the second quarter, Holdings Channel.com reports. The institutional investor acquired 16,736 shares of the exchange traded fund’s stock, valued at approximately $417,000.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in GLD. Corient Private Wealth LLC raised its position in shares of SPDR Gold Shares by 571.3% during the 4th quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock worth $1,565,118,000 after purchasing an additional 3,360,966 shares during the last quarter. Morgan Stanley grew its holdings in SPDR Gold Shares by 22.4% during the 4th quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock valued at $5,506,229,000 after buying an additional 2,539,266 shares during the last quarter. Virtu Financial LLC purchased a new position in SPDR Gold Shares during the fourth quarter worth $474,952,000. Marino Management LLC purchased a new position in SPDR Gold Shares during the fourth quarter worth $438,475,000. Finally, Diamant Asset Management Inc. increased its position in SPDR Gold Shares by 42,929.0% during the first quarter. Diamant Asset Management Inc. now owns 697,070 shares of the exchange traded fund’s stock worth $299,942,000 after buying an additional 695,450 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.
SPDR Gold Shares Stock Down 0.1%
NYSEARCA GLD opened at $408.42 on Tuesday. SPDR Gold Shares has a fifty-two week low of $314.64 and a fifty-two week high of $509.70. The business has a fifty day moving average of $386.36 and a 200-day moving average of $415.88. The stock has a market cap of $144.21 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.
SPDR Gold Shares News Roundup
- Positive Sentiment: Renewed U.S.-Iran tensions and risks surrounding the Strait of Hormuz are supporting safe-haven demand for gold, while higher oil prices could increase inflation concerns and strengthen the longer-term appeal of bullion. U.S. Strikes Raise Hormuz Risks: ETF Areas to Win/Lose
- Positive Sentiment: Julius Baer said the Treasury’s larger bond-buyback program is renewing concerns about U.S. fiscal sustainability and potential dollar debasement, factors that could encourage investors to hold gold through GLD. Treasury’s ramped-up bond buybacks soften the U.S. dollar and boost the gold price
- Neutral Sentiment: Analysts continue to describe gold’s broader trend as structurally bullish because of rising global money supply and government debt, although forecasts for substantially higher prices are longer-term and do not offset immediate volatility. Gold price is going to $20,000
- Negative Sentiment: Fed Chair Kevin Warsh’s hawkish message increased expectations for a rate hike and pushed yields higher. Because GLD holds non-yielding gold, elevated interest rates raise its opportunity cost and are pressuring the fund. Fed’s hawkishness will drive gold price toward $4,200
- Negative Sentiment: Gold ETF inflows have recently reversed after the selloff, suggesting some investors are taking profits. Technical analysts are watching key support levels as the metal tests whether it can stabilize after its recent rally. Gold ETF Inflows Reverse Course
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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