Rye Brook Capital LLC increased its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 24.0% during the third quarter, HoldingsChannel reports. The firm owned 15,306 shares of the exchange traded fund’s stock after buying an additional 2,960 shares during the period. SPDR Gold Shares comprises 3.8% of Rye Brook Capital LLC’s portfolio, making the stock its 9th biggest holding. Rye Brook Capital LLC’s holdings in SPDR Gold Shares were worth $5,829,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of the business. Corient Private Wealth LLC lifted its stake 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 valued at $1,565,118,000 after acquiring an additional 3,360,966 shares during the period. First Eagle Investment Management LLC grew its stake in shares of SPDR Gold Shares by 1.5% in the second quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock worth $917,864,000 after acquiring an additional 35,882 shares during the period. Virtu Financial LLC purchased a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $474,952,000. Envestnet Asset Management Inc. lifted its position in SPDR Gold Shares by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,169,683 shares of the exchange traded fund’s stock valued at $430,888,000 after purchasing an additional 5,793 shares during the period. Finally, Marino Management LLC bought a new position in SPDR Gold Shares during the fourth quarter valued at approximately $438,475,000. 42.19% of the stock is owned by hedge funds and other institutional investors.
SPDR Gold Shares Trading Down 1.7%
GLD stock traded down $6.39 on Wednesday, hitting $375.88. The company had a trading volume of 7,032,942 shares, compared to its average volume of 11,715,461. SPDR Gold Shares has a 12-month low of $360.12 and a 12-month high of $509.70. The stock has a market cap of $139.23 billion, a price-to-earnings ratio of -32.43 and a beta of 0.18. The stock’s 50-day simple moving average is $397.44 and its 200 day simple moving average is $402.03.
More SPDR Gold Shares News
- Positive Sentiment: China’s central bank increased its gold reserves by 21 tonnes in September, marking its largest monthly purchase in three years and the 23rd consecutive month of buying. Persistent official-sector demand supports the underlying value of gold and GLD. China’s central bank buys 21 tonnes of gold in September
- Positive Sentiment: Weak payroll data and renewed expectations for Federal Reserve rate cuts are keeping safe-haven demand in focus. Lower rates would reduce the opportunity cost of holding non-yielding gold, potentially benefiting GLD. Gold ETF GLD: Weak Payrolls and Rate-Cut Bets
- Positive Sentiment: Central banks added 39 tonnes to reserves in August, while industry experts said geopolitical uncertainty and declining confidence in traditional reserve assets are encouraging countries to hold more gold. Central banks add 39 net tonnes of gold in August
- Neutral Sentiment: Gold is testing major technical support near $4,100–$4,075. A successful defense could produce a short-term rebound, but a breakdown would signal additional downside risk for GLD. Gold price forecast: $4,104 support
- Negative Sentiment: Gold’s correction has deepened as sellers retain control, with analysts warning that a falling-wedge support zone will determine whether the decline continues. Gold price forecast: bearish trend deepens
- Negative Sentiment: Rising long-term Treasury yields and a stronger dollar have pressured gold, while the Federal Reserve minutes and a 10-year Treasury auction could reinforce the rates-driven selloff. Gold slides as Fed minutes and Treasury auction test buyers
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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