Sigma Planning Corp trimmed its stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 21.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 46,617 shares of the exchange traded fund’s stock after selling 12,371 shares during the period. SPDR Gold Shares comprises about 0.6% of Sigma Planning Corp’s investment portfolio, making the stock its 22nd largest position. Sigma Planning Corp’s holdings in SPDR Gold Shares were worth $20,059,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds have also recently bought and sold shares of the stock. WPG Advisers LLC acquired a new stake in shares of SPDR Gold Shares in the 4th quarter valued at $25,000. Timmons Wealth Management LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter worth about $26,000. Eukles Asset Management acquired a new stake in shares of SPDR Gold Shares during the 4th quarter worth about $27,000. Private Wealth Management Group LLC acquired a new stake in shares of SPDR Gold Shares during the 1st quarter worth about $30,000. Finally, Vestwell Advisors LLC acquired a new stake in shares of SPDR Gold Shares during the 3rd quarter worth about $27,000. 42.19% of the stock is currently owned by institutional investors and hedge funds.
SPDR Gold Shares Stock Up 1.4%
Shares of GLD stock opened at $372.15 on Wednesday. The company has a market capitalization of $130.70 billion, a P/E ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 12-month low of $300.95 and a 12-month high of $509.70. The firm has a 50-day moving average price of $397.55 and a 200 day moving average price of $425.73.
SPDR Gold Shares News Summary
- Positive Sentiment: Gold rallied after the June CPI report came in weaker than expected, easing pressure on the Federal Reserve and supporting bullion prices. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As U.S. Inflation Rate Misses Estimates
- Positive Sentiment: Gold climbed off an eight-month low as the dollar and yields weakened, improving the outlook for gold-backed ETFs like GLD. Gold Rises Off an Eight-Month Low, Dollar Falls after US Consumer Prices Eased in June
- Positive Sentiment: Gold prices jumped toward the $4,100 level after the inflation report, with traders seeing room for the Fed to keep rates unchanged, a constructive setup for bullion. Gold prices surging higher to test resistance at $4,100 following sharp drop in U.S. inflation
- Neutral Sentiment: Some analysts say gold’s rebound may be just noise unless buyers can break key resistance levels, suggesting the move could remain choppy. VanEck’s Casanova sees gold’s pullback as noise, says mining stocks remain the standout trade
- Negative Sentiment: Gold remains below key technical resistance in some forecasts, and broader bearish trends in yields and risk sentiment have kept pressure on the metal recently. Gold (XAU/USD) Price Forecast: Bears Defend Key Resistance Zone
- Negative Sentiment: Gold had also been pressured earlier by rising global bond yields and concerns that a more hawkish Fed could keep rates elevated, which can weigh on GLD. Gold Declines Amid Broad Rise in Yields, Monetary Policy Concerns
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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