NewEdge Advisors LLC boosted its stake in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 6.4% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 271,252 shares of the exchange traded fund’s stock after purchasing an additional 16,400 shares during the quarter. NewEdge Advisors LLC’s holdings in SPDR Gold Shares were worth $116,717,000 at the end of the most recent reporting period.
Other institutional investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in shares of SPDR Gold Shares during the fourth quarter valued at $25,000. Timmons Wealth Management LLC acquired a new stake in shares of SPDR Gold Shares in the 4th quarter worth about $26,000. Chapman Financial Group LLC bought a new stake in SPDR Gold Shares in the 2nd quarter valued at about $26,000. Eukles Asset Management acquired a new position in SPDR Gold Shares during the 4th quarter valued at about $27,000. Finally, Private Wealth Management Group LLC bought a new position in SPDR Gold Shares in the 1st quarter worth about $30,000. 42.19% of the stock is currently owned by institutional investors.
Key SPDR Gold Shares News
Here are the key news stories impacting SPDR Gold Shares this week:
- Positive Sentiment: Gold rallied after ADP reported only 44,000 private-sector jobs were created in July, below expectations. Cooling employment data reduced expectations for additional Fed tightening, supporting non-yielding assets such as gold. Gold prices push above $4,200 as ADP says 44k jobs created in July
- Positive Sentiment: A weaker U.S. dollar and lower Treasury yields made gold more attractive internationally and reduced the opportunity cost of holding the metal. Progress toward a Strait of Hormuz or Iran-related agreement also eased oil-driven inflation and rate-hike concerns. Gold rises ahead of Hormuz deal and softer dollar
- Positive Sentiment: Technical traders viewed gold’s breakout from a prolonged trading range as a buy signal, while call-option activity in GLD was above average, indicating increased bullish positioning. Gold tests 200-day EMA as rectangle breakout emerges
- Positive Sentiment: Longer-term support remains strong: analysts cited elevated government debt and de-dollarization, while central-bank buying—including a new domestic gold-buying program from the Bank of Korea—continues to underpin demand. Gold’s rally has further to run
- Neutral Sentiment: Investors remain focused on Friday’s U.S. nonfarm-payrolls report, which could either reinforce easing-rate expectations or revive pressure on gold if labor data is strong. Gold and silver forecast ahead of NFP
- Negative Sentiment: Monetary-policy uncertainty and still-elevated longer-term yields remain potential headwinds. One analyst also expects no new record for gold this year, suggesting limited upside after the recent breakout. Gold breakout was a buy signal, but no new record this year
SPDR Gold Shares Trading Up 4.1%
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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