Ethos Financial Group LLC lessened its holdings in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 24.8% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 26,833 shares of the exchange traded fund’s stock after selling 8,855 shares during the period. SPDR Gold Shares makes up 0.8% of Ethos Financial Group LLC’s portfolio, making the stock its 24th biggest position. Ethos Financial Group LLC’s holdings in SPDR Gold Shares were worth $11,319,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Corient Private Wealth LLC boosted its position in shares of SPDR Gold Shares by 571.3% during the 4th quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock valued at $1,565,118,000 after acquiring an additional 3,360,966 shares in the last quarter. Morgan Stanley lifted its stake in SPDR Gold Shares by 22.4% during the fourth quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock worth $5,506,229,000 after purchasing an additional 2,539,266 shares during the period. Virtu Financial LLC bought a new position in SPDR Gold Shares during the fourth quarter worth about $474,952,000. Marino Management LLC acquired a new stake in SPDR Gold Shares during the fourth quarter valued at approximately $438,475,000. Finally, Diamant Asset Management Inc. grew its stake in shares of SPDR Gold Shares by 42,929.0% in the 1st quarter. Diamant Asset Management Inc. now owns 697,070 shares of the exchange traded fund’s stock valued at $299,942,000 after purchasing an additional 695,450 shares during the period. Institutional investors and hedge funds own 42.19% of the company’s stock.
SPDR Gold Shares Trading Up 1.4%
Shares of GLD opened at $372.15 on Wednesday. The stock has a market cap of $130.70 billion, a PE ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 1 year low of $300.95 and a 1 year high of $509.70. The stock has a 50 day simple moving average of $397.55 and a 200-day simple moving average of $425.73.
More SPDR Gold Shares News
- 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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Want to see what other hedge funds are holding GLD? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for SPDR Gold Shares (NYSEARCA:GLD – Free Report).
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