Centennial Bank AR cut its stake in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 14.0% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 10,770 shares of the exchange traded fund’s stock after selling 1,747 shares during the period. SPDR Gold Shares accounts for about 1.7% of Centennial Bank AR’s portfolio, making the stock its 15th largest position. Centennial Bank AR’s holdings in SPDR Gold Shares were worth $4,634,000 as of its most recent filing with the Securities & Exchange Commission.
Several other large investors also recently bought and sold shares of the stock. WPG Advisers LLC acquired a new stake in shares of SPDR Gold Shares during the fourth quarter worth $25,000. Timmons Wealth Management LLC acquired a new position in shares of SPDR Gold Shares in the 4th quarter valued at $26,000. Eukles Asset Management acquired a new position in shares of SPDR Gold Shares in the 4th quarter valued at $27,000. Private Wealth Management Group LLC purchased a new position in SPDR Gold Shares in the 1st quarter worth $30,000. Finally, USA Financial Formulas purchased a new position in SPDR Gold Shares in the 4th quarter worth $31,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.
SPDR Gold Shares Stock Performance
Shares of GLD opened at $368.41 on Friday. The stock has a 50-day moving average of $393.74 and a two-hundred day moving average of $424.69. SPDR Gold Shares has a one year low of $300.95 and a one year high of $509.70. The stock has a market cap of $129.31 billion, a P/E ratio of -32.43 and a beta of 0.17.
Key Stories Impacting SPDR Gold Shares
- Positive Sentiment: Gold briefly rebounded near $4,000/oz after softer U.S. inflation expectations and stronger consumer sentiment, which can support demand for safe-haven assets. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
- Positive Sentiment: Some analysts say the broader gold bull market is not over and that central-bank buying remains a structural support for prices over the long term. Gold Rises; Central Bank Buying Likely to Remain Structural Driver
- Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and product choice in the gold ETF space. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
- Negative Sentiment: Gold has slipped to an eight-month low and is struggling to hold support, with traders focused on bearish technical levels near $3,942 and below. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
- Negative Sentiment: Stronger U.S. economic data, rising Treasury yields, and a firmer dollar have reduced demand for gold as a defensive asset. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report
- Negative Sentiment: SPDR Gold Shares has seen heavy investor outflows since March, signaling fading appetite for GLD amid gold’s pullback. Largest U.S. gold ETF sees 14 billion in outflows since March, amid gold’s year-to-date pullback
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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