Virtu Financial LLC bought a new position in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 1,198,436 shares of the exchange traded fund’s stock, valued at approximately $474,952,000. SPDR Gold Shares accounts for about 18.4% of Virtu Financial LLC’s holdings, making the stock its 2nd largest holding. Virtu Financial LLC owned 0.32% of SPDR Gold Shares as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also bought and sold shares of GLD. WPG Advisers LLC bought a new stake in shares of SPDR Gold Shares during the fourth quarter worth approximately $25,000. Timmons Wealth Management LLC acquired a new stake in SPDR Gold Shares during the 4th quarter worth approximately $26,000. Chapman Financial Group LLC bought a new stake in SPDR Gold Shares in the 2nd quarter valued at $26,000. Vestwell Advisors LLC bought a new stake in SPDR Gold Shares in the 3rd quarter valued at $27,000. Finally, Eukles Asset Management bought a new stake in SPDR Gold Shares in the 4th quarter valued at $27,000. Institutional investors and hedge funds own 42.19% of the company’s stock.
SPDR Gold Shares Price Performance
Shares of NYSEARCA GLD opened at $387.12 on Friday. The firm has a market cap of $140.80 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. The stock’s fifty day moving average price is $418.52 and its two-hundred day moving average price is $428.27. SPDR Gold Shares has a one year low of $299.89 and a one year high of $509.70.
Key Headlines Impacting SPDR Gold Shares
- Negative Sentiment: Gold prices are retreating as the dollar tests yearly highs and traders reprice the Fed’s “higher-for-longer” message after the policy meeting. Gold, silver sink as dollar tests yearly highs following hawkish Fed – Kitco PM Report
- Negative Sentiment: Gold is also being pressured by stronger U.S. data, including a rebound in the Philly Fed survey and solid labor-market readings, which reduce expectations for near-term easing. Gold prices remain under pressure as Philly Fed Survey rebounds to 10.3 in June
- Neutral Sentiment: Some analysts say gold ETFs still deserve a place in long-term portfolios because of central-bank buying and diversification benefits, which may help limit downside over time. Why Gold ETFs Still Deserve a Place in Long-Term Portfolios
- Neutral Sentiment: Broader geopolitical uncertainty and central-bank reserve accumulation continue to provide a long-term backdrop of support, even as short-term pricing weakens. Central banks are bringing gold reserves home as geopolitical risks rise
- Negative Sentiment: Technical analysts warn that gold has broken lower from recent resistance and may be heading toward key support zones, suggesting more near-term downside for GLD if the selling continues. Gold (XAU/USD) Price Forecast: Can Bulls Defend Fibonacci Support?
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.
Further Reading
- Five stocks we like better than SPDR Gold Shares
- Credo Technologies Accelerates AI—Its Stock Price Will Follow
- Qualcomm Goes All-In: The $10B Bet to Crush NVIDIA
- Jabil Just Gave Investors a Stronger Reason to Buy the Dip
- CarMax In Reverse? Why You Should Buy Now Before the Big Catalysts Emerge
Receive News & Ratings for SPDR Gold Shares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPDR Gold Shares and related companies with MarketBeat.com's FREE daily email newsletter.
