Lyell Wealth Management LP lowered its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 10.5% in the fourth quarter, Holdings Channel.com reports. The fund owned 36,330 shares of the exchange traded fund’s stock after selling 4,284 shares during the quarter. Lyell Wealth Management LP’s holdings in SPDR Gold Shares were worth $14,398,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. First Eagle Investment Management LLC lifted its holdings in shares of SPDR Gold Shares by 2.7% in the 3rd quarter. First Eagle Investment Management LLC now owns 2,531,196 shares of the exchange traded fund’s stock worth $899,764,000 after buying an additional 66,416 shares during the period. Bank of Montreal Can purchased a new stake in shares of SPDR Gold Shares in the 3rd quarter worth $556,282,000. Ameriprise Financial Inc. lifted its holdings in shares of SPDR Gold Shares by 3.4% in the 3rd quarter. Ameriprise Financial Inc. now owns 1,555,831 shares of the exchange traded fund’s stock worth $554,139,000 after buying an additional 50,756 shares during the period. Barclays PLC grew its holdings in SPDR Gold Shares by 1.4% during the 3rd quarter. Barclays PLC now owns 1,125,376 shares of the exchange traded fund’s stock worth $400,037,000 after acquiring an additional 15,932 shares in the last quarter. Finally, Corient Private Wealth LLC grew its holdings in SPDR Gold Shares by 108.1% during the 2nd quarter. Corient Private Wealth LLC now owns 1,077,230 shares of the exchange traded fund’s stock worth $327,500,000 after acquiring an additional 559,507 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.
SPDR Gold Shares Price Performance
Shares of SPDR Gold Shares stock opened at $386.32 on Friday. SPDR Gold Shares has a 1 year low of $299.89 and a 1 year high of $509.70. The firm’s 50-day moving average is $422.52 and its two-hundred day moving average is $427.97. The stock has a market cap of $140.50 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14.
Key SPDR Gold Shares News
- Positive Sentiment: Gold found buyers after testing major support, with some analysts saying the market may be forming a bottom near the $4,000 area. Gold (XAU/USD) Price Forecast: Undercut Setup Signals Potential Bottom
- Positive Sentiment: Some strategists argued the longer-term gold bull market is still intact despite the recent drop below key price levels, which could encourage dip buying in GLD. Don’t fear a drop below $4,000, gold’s bull market isnt broken – Thorsten Polleit
- Neutral Sentiment: Gold and GLD remain under pressure from higher-for-longer interest rate expectations, a stronger dollar, and elevated bond yields, which have driven the metal to recent six- and seven-month lows. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor
- Neutral Sentiment: Mixed macro signals are keeping the ETF volatile: hotter-than-expected PPI and CPI readings are bearish for gold, while safe-haven demand from geopolitical tensions and talk of a potential bottom are offering some support. Update: Gold Rises on a Restart of Iranian Talks; U.S. Wholesale Inflation Rose More Than Expected in May
- Negative Sentiment: Several market reports warned that the recent decline may not be over, with GLD breaking key technical support and some traders betting the pain could last longer if rates stay elevated. As gold’s tumble continues, traders bet the pain may last for two more years
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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