Westside Investment Management Inc. boosted its stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 11.3% in the 3rd quarter, Holdings Channel reports. The firm owned 20,102 shares of the exchange traded fund’s stock after buying an additional 2,036 shares during the quarter. SPDR Gold Shares accounts for approximately 0.9% of Westside Investment Management Inc.’s portfolio, making the stock its 24th biggest position. Westside Investment Management Inc.’s holdings in SPDR Gold Shares were worth $7,655,000 as of its most recent SEC filing.
Several other hedge funds also recently added to or reduced their stakes in the stock. Horizon Wealth Management LLC raised its holdings in shares of SPDR Gold Shares by 3.0% during the 3rd quarter. Horizon Wealth Management LLC now owns 67,877 shares of the exchange traded fund’s stock valued at $25,850,000 after buying an additional 1,948 shares during the period. Kestra Advisory Services LLC lifted its position in SPDR Gold Shares by 9.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 400,142 shares of the exchange traded fund’s stock worth $152,390,000 after acquiring an additional 33,874 shares in the last quarter. Claro Advisors Inc. lifted its position in SPDR Gold Shares by 13.4% during the 3rd quarter. Claro Advisors Inc. now owns 3,531 shares of the exchange traded fund’s stock worth $1,345,000 after acquiring an additional 417 shares in the last quarter. StrongBox Wealth LLC lifted its position in SPDR Gold Shares by 3.0% during the 3rd quarter. StrongBox Wealth LLC now owns 2,008 shares of the exchange traded fund’s stock worth $765,000 after acquiring an additional 59 shares in the last quarter. Finally, Valtinson Bruner Financial Planning LLC lifted its position in SPDR Gold Shares by 6.3% during the 3rd quarter. Valtinson Bruner Financial Planning LLC now owns 1,539 shares of the exchange traded fund’s stock worth $586,000 after acquiring an additional 91 shares in the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.
Key Stories Impacting SPDR Gold Shares
Here are the key news stories impacting SPDR Gold Shares this week:
- Positive Sentiment: Gold’s rally continued, with reports citing softer yields and a weaker dollar as drivers. The World Bank also expects gold to stay above $4,000 an ounce through 2028, while central-bank purchases remain a source of demand. Gold climbs above $4,100 as falling yields, softer labor costs support bullion World Bank gold outlook
- Neutral Sentiment: Technical commentary described a possible bullish reversal after gold reclaimed resistance, but noted that the broader downtrend and resistance levels could constrain the recovery. Gold bullish reversal forecast
- Negative Sentiment: Elevated real yields and upcoming U.S. jobs data could weaken gold’s momentum if they bolster expectations for tighter monetary policy. Gold also faces resistance near $4,200. Gold faces $4,200 barrier
SPDR Gold Shares Stock Up 0.8%
NYSEARCA GLD opened at $375.49 on Friday. The stock has a market cap of $137.09 billion, a PE ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a fifty-two week low of $354.67 and a fifty-two week high of $509.70. The business has a 50 day moving average price of $385.96 and a two-hundred day moving average price of $411.85.
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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