Pinpoint Asset Management Singapore Pte. Ltd. Takes $20.45 Million Position in SPDR Gold Shares $GLD

Pinpoint Asset Management Singapore Pte. Ltd. purchased a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 51,590 shares of the exchange traded fund’s stock, valued at approximately $20,446,000. SPDR Gold Shares comprises about 4.3% of Pinpoint Asset Management Singapore Pte. Ltd.’s holdings, making the stock its 8th largest holding.

A number of other institutional investors have also recently made changes to their positions in GLD. Calder Financial LLC bought a new stake in shares of SPDR Gold Shares during the 4th quarter valued at $807,000. Crescent Grove Advisors LLC raised 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 valued at $6,230,000 after purchasing an additional 3,175 shares during the period. Empirical Asset Management LLC raised its stake in shares of SPDR Gold Shares by 256.7% during the 3rd quarter. Empirical Asset Management LLC now owns 36,404 shares of the exchange traded fund’s stock valued at $12,941,000 after purchasing an additional 26,197 shares during the period. Colonial Trust Advisors raised its stake in shares of SPDR Gold Shares by 7.6% during the 3rd quarter. Colonial Trust Advisors now owns 19,720 shares of the exchange traded fund’s stock valued at $7,010,000 after purchasing an additional 1,385 shares during the period. Finally, Ervin Investment Management LLC bought a new stake in shares of SPDR Gold Shares during the 4th quarter valued at $7,178,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

NYSEARCA:GLD opened at $386.54 on Friday. SPDR Gold Shares has a 52-week low of $299.89 and a 52-week high of $509.70. The firm has a market cap of $140.58 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. The business’s fifty day moving average is $421.49 and its 200 day moving average is $427.68.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold is showing signs of a rebound after holding major support, suggesting buyers are stepping in after the recent selloff. Gold (XAU/USD) Price Forecast: Failed Breakdown Hints at Rebound
• Positive Sentiment: Safe-haven demand improved as Middle East tensions persisted and U.S.-Iran talk headlines supported a bid for precious metals. Gold and Silver Price Forecast: US-Iran Deal Hopes Lift XAUUSD and XAGUSD
• Positive Sentiment: Gold held key support around $4,000, and analysts said that level may act as a floor as investors cautiously return to the trade. Gold holds key $4,000 support as analysts watch for signs of a bottom
• Neutral Sentiment: The CME plans to offer 24/7 gold trading, which could improve access and liquidity but does not directly change fundamentals. CME to offer 24/7 gold and oil trading
• Neutral Sentiment: Gold remains caught between bargain-hunting support and macro pressure from higher-for-longer rate expectations and stronger U.S. inflation readings. Spot gold at $4,062/oz after U.S. May PPI rises 1.1%, core PPI up 0.4%
• Negative Sentiment: Several reports warn that gold remains under pressure from a stronger dollar, elevated yields, and fears the Fed may keep rates restrictive, which could limit any recovery in GLD. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor

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.