IPG Investment Advisors LLC reduced its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 12.2% during the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 13,238 shares of the exchange traded fund’s stock after selling 1,838 shares during the period. IPG Investment Advisors LLC’s holdings in SPDR Gold Shares were worth $4,877,000 as of its most recent filing with the SEC.
Several other hedge funds have also recently modified their holdings of GLD. Corient Private Wealth LLC raised its position in 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 buying an additional 3,360,966 shares during the last quarter. Morgan Stanley boosted its holdings in SPDR Gold Shares by 22.4% in 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 purchasing an additional 2,539,266 shares in the last quarter. Virtu Financial LLC acquired a new position in SPDR Gold Shares during the 4th quarter worth approximately $474,952,000. Marino Management LLC purchased a new position in shares of SPDR Gold Shares during the 4th quarter worth approximately $438,475,000. Finally, Diamant Asset Management Inc. lifted its holdings in shares of SPDR Gold Shares by 42,929.0% in the 1st quarter. Diamant Asset Management Inc. now owns 697,070 shares of the exchange traded fund’s stock valued at $299,942,000 after buying an additional 695,450 shares during the period. 42.19% of the stock is owned by institutional investors and hedge funds.
Key SPDR Gold Shares News
Here are the key news stories impacting SPDR Gold Shares this week:
- Positive Sentiment: Investors directed approximately $18 billion into gold ETFs during August, according to the World Gold Council, as concerns about rising sovereign debt increased demand for gold as a hedge against fiscal and currency risks. Investors pour $18 billion into gold ETFs in August
- Positive Sentiment: UBS said mounting fiscal concerns, inflation, geopolitical uncertainty and strong sovereign demand support maintaining a meaningful strategic allocation to gold, suggesting pullbacks may attract long-term buyers. UBS gold allocation outlook
- Positive Sentiment: China’s central bank purchased 20.2 tonnes of gold in August, its largest monthly addition since 2023, reinforcing the longer-term official-sector demand supporting GLD’s underlying asset. China central bank gold purchase
- Positive Sentiment: Gold rebounded as traders focused on bond-market stress and bond buybacks, while Middle East tensions continued to support safe-haven demand. Gold rebounds as traders focus on bond buybacks
- Neutral Sentiment: Gold remains technically constrained near major resistance, but analysts at Goldman Sachs and Société Générale continue to describe the broader trend as bullish, citing coordinated ETF, futures, options and physical demand. Société Générale gold outlook
- Negative Sentiment: Higher oil prices, Treasury yields and expectations of a September rate hike remain headwinds for non-yielding gold. Upcoming U.S. PPI and CPI data could increase volatility by changing rate expectations. Gold and silver slip as oil spike keeps Fed-hike trade alive
SPDR Gold Shares Stock Up 0.9%
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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