Checchi Capital Advisers LLC lowered its stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 24.5% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 38,872 shares of the exchange traded fund’s stock after selling 12,620 shares during the quarter. SPDR Gold Shares comprises approximately 0.8% of Checchi Capital Advisers LLC’s investment portfolio, making the stock its 22nd biggest holding. Checchi Capital Advisers LLC’s holdings in SPDR Gold Shares were worth $16,726,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently made changes to their positions in the company. Calder Financial LLC acquired a new position in SPDR Gold Shares during the 4th quarter worth approximately $807,000. Crescent Grove Advisors LLC grew its stake in shares of SPDR Gold Shares by 25.3% during the 4th quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock worth $6,230,000 after acquiring an additional 3,175 shares in the last quarter. Ervin Investment Management LLC acquired a new stake in shares of SPDR Gold Shares in the fourth quarter valued at approximately $7,178,000. Cidel Asset Management Inc. raised its holdings in shares of SPDR Gold Shares by 69.8% in the first quarter. Cidel Asset Management Inc. now owns 3,368 shares of the exchange traded fund’s stock valued at $1,449,000 after purchasing an additional 1,384 shares during the last quarter. Finally, Dakota Wealth Management lifted its position in shares of SPDR Gold Shares by 89.3% in the fourth quarter. Dakota Wealth Management now owns 52,253 shares of the exchange traded fund’s stock worth $20,708,000 after purchasing an additional 24,648 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.
More SPDR Gold Shares News
Here are the key news stories impacting SPDR Gold Shares this week:
- 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 Stock Up 1.4%
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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