Gerald Baker Financial Group LLC Invests $1.47 Million in SPDR Gold Shares $GLD

Gerald Baker Financial Group LLC acquired a new stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) in the first quarter, HoldingsChannel reports. The firm acquired 3,413 shares of the exchange traded fund’s stock, valued at approximately $1,469,000.

Several other institutional investors and hedge funds have also modified their holdings of the company. Calder Financial LLC acquired a new position in SPDR Gold Shares during the fourth quarter worth approximately $807,000. Crescent Grove Advisors LLC raised its position in shares of SPDR Gold Shares by 25.3% in the 4th quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock worth $6,230,000 after buying an additional 3,175 shares during the period. Ervin Investment Management LLC acquired a new position in SPDR Gold Shares in the fourth quarter valued at $7,178,000. Cidel Asset Management Inc. boosted its holdings in 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 acquiring an additional 1,384 shares during the last quarter. Finally, Dakota Wealth Management grew its position in SPDR Gold Shares by 89.3% during the fourth quarter. Dakota Wealth Management now owns 52,253 shares of the exchange traded fund’s stock valued at $20,708,000 after acquiring an additional 24,648 shares during the period. Hedge funds and other institutional investors own 42.19% of the company’s stock.

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Key SPDR Gold Shares News

Here are the key news stories impacting SPDR Gold Shares this week:

• Negative Sentiment: U.S. retail sales, jobless claims, and regional manufacturing data all came in stronger than expected, supporting the dollar and yields while weighing on gold. Update: Gold Trades Lower, Dollar and Yields Rise as US Retail Sales Growth Eased in June
• Negative Sentiment: Spot gold slipped below key psychological support near $4,000 as traders reacted to firmer yields and a stronger dollar, suggesting more near-term downside for bullion. Gold and silver fall as Fed-rate relief fades after data – Kitco AM Report
• Negative Sentiment: Multiple market reports flagged technical weakness, with gold breaking down from resistance and traders watching for deeper support levels if selling continues. Gold (XAU/USD) Price Forecast: Will Gold Break Below Major Support Levels?
• Negative Sentiment: GLD-specific flow data also looks unfavorable, with reports of roughly $14 billion to $15 billion in investor outflows since March, raising concerns about demand for the ETF itself. SPDR Gold Shares ETF sees $14B outflows since March 1 amid cost concerns

SPDR Gold Shares Price Performance

Shares of NYSEARCA:GLD opened at $364.96 on Friday. The firm has a market capitalization of $128.17 billion, a PE ratio of -32.43 and a beta of 0.17. The business has a 50-day moving average of $395.05 and a two-hundred day moving average of $425.09. SPDR Gold Shares has a 12 month low of $300.95 and a 12 month high of $509.70.

SPDR Gold Shares Profile

(Free Report)

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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