Copley Financial Group Inc. increased its holdings in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 485.6% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 4,281 shares of the exchange traded fund’s stock after buying an additional 3,550 shares during the quarter. SPDR Gold Shares comprises approximately 0.8% of Copley Financial Group Inc.’s portfolio, making the stock its 20th biggest position. Copley Financial Group Inc.’s holdings in SPDR Gold Shares were worth $1,577,000 as of its most recent SEC filing.
A number of other hedge funds have also bought and sold shares of the business. Timmons Wealth Management LLC bought a new stake in shares of SPDR Gold Shares in the fourth quarter worth approximately $26,000. Eukles Asset Management purchased a new position in shares of SPDR Gold Shares during the fourth quarter valued at approximately $27,000. Private Wealth Management Group LLC bought a new position in SPDR Gold Shares during the first quarter valued at approximately $30,000. Parvin Asset Management LLC bought a new position in SPDR Gold Shares during the first quarter valued at approximately $31,000. Finally, Longview Financial Advisors Inc. purchased a new stake in SPDR Gold Shares in the first quarter worth approximately $35,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.
Key SPDR Gold Shares News
Here are the key news stories impacting SPDR Gold Shares this week:
- Positive Sentiment: Gold prices rallied as Treasury yields retreated and Federal Reserve Governor Christopher Waller adopted a less-hawkish tone, improving the appeal of non-yielding bullion. Softer labor-market signals also supported expectations that interest-rate pressure could ease. Gold price nears $4,500 as jobs data, Waller ease yield pressure
- Positive Sentiment: Central banks bought a net 23 tonnes of gold in July, led by China and Poland, reinforcing the long-term demand story for GLD’s underlying asset. Central banks add 23 net tonnes of gold in July
- Positive Sentiment: Societe Generale, Schroders and RBC remain constructive on gold, citing central-bank accumulation, de-dollarization, debt, inflation and geopolitical uncertainty. Goldman Sachs also projects gold near $4,900 an ounce by year-end. Goldman Sachs sees gold at $4,900 by year-end
- Positive Sentiment: The Netherlands moved roughly 86 tonnes of gold from New York and Ottawa to London for crisis preparedness. Although this does not directly increase gold demand, the move highlights heightened concern about geopolitical and financial-system risks—an environment generally supportive of safe-haven assets. Dutch central bank moves gold bars
- Neutral Sentiment: Technical analysts see a potential breakout toward $4,852 and beyond, but Friday’s U.S. payrolls report remains the next major catalyst for gold and GLD. Gold Price Forecast: Breakout Targets $4,852 and Beyond
- Negative Sentiment: August’s ISM Services PMI exceeded expectations, while elevated 10-year Treasury yields continue to raise gold’s opportunity cost. A stronger payrolls report could revive rate-hike expectations and pressure bullion. Gold price after ISM Services PMI rises
SPDR Gold Shares Trading Up 1.8%
About SPDR Gold Shares
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.
Featured Articles
- Five stocks we like better than SPDR Gold Shares
- The Path to $230 Billion: Broadcom Outlines the Next Phase of Its AI Growth Story
- NVIDIA’s Hugging Face Deal Raises a Bigger Question About Its AI Moat Now
- Dropping the Dough: Yum! Brands Strategically Trims the Fat
- These 3 Stock Charts Just Flashed the Dreaded Death Cross Pattern
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).
Receive News & Ratings for SPDR Gold Shares Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for SPDR Gold Shares and related companies with MarketBeat.com's FREE daily email newsletter.
