XML Financial LLC reduced its position in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 3.2% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 40,112 shares of the exchange traded fund’s stock after selling 1,324 shares during the quarter. SPDR Gold Shares accounts for 1.3% of XML Financial LLC’s investment portfolio, making the stock its 16th biggest holding. XML Financial LLC’s holdings in SPDR Gold Shares were worth $15,897,000 at the end of the most recent quarter.
A number of other hedge funds also recently modified their holdings of the business. WPG Advisers LLC purchased a new position in shares of SPDR Gold Shares during the fourth quarter valued at $25,000. Chapman Financial Group LLC purchased a new stake in SPDR Gold Shares in the 2nd quarter worth about $26,000. Hopwood Financial Services Inc. purchased a new stake in SPDR Gold Shares in the 3rd quarter worth about $27,000. Vestwell Advisors LLC acquired a new stake in SPDR Gold Shares during the 3rd quarter worth about $27,000. Finally, Eukles Asset Management acquired a new stake in SPDR Gold Shares during the 4th quarter worth about $27,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.
Key Stories Impacting SPDR Gold Shares
Here are the key news stories impacting SPDR Gold Shares this week:
- Positive Sentiment: Some analysts still view the pullback as a buying opportunity, arguing that long-term inflation concerns and strategic demand for gold could support a rebound. Gold breaks below key technical support, but analysts see a buying opportunity
- Neutral Sentiment: There are still longer-term bullish arguments for gold, including deglobalization, central bank buying, and forecasts calling for higher average gold prices later this year. Deglobalization sparks race for strategic resources, driving gold and copper outlook – Sohn Montreal
- Negative Sentiment: Stronger U.S. employment data pushed yields and the dollar higher, fueling a broad selloff in gold and other precious metals. Gold Falls as the Dollar and Yields Rise After an Unexpected Surge in May U.S. Employment
- Negative Sentiment: Gold slipped below major support levels as traders bet the Federal Reserve may remain hawkish for longer, extending the technical downtrend. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Dives 3% As Traders Bet On Hawkish Fed
- Negative Sentiment: Multiple market updates pointed to additional selling pressure after nonfarm payrolls came in much stronger than expected, reinforcing higher-rate expectations. Gold price see solid selling pressure as U.S. economy created 172k jobs in May
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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