SPDR Gold Shares $GLD Holdings Lowered by Park Edge Advisors LLC

Park Edge Advisors LLC trimmed its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 6.8% in the first quarter, HoldingsChannel reports. The fund owned 26,418 shares of the exchange traded fund’s stock after selling 1,939 shares during the period. SPDR Gold Shares makes up 2.6% of Park Edge Advisors LLC’s investment portfolio, making the stock its 5th biggest position. Park Edge Advisors LLC’s holdings in SPDR Gold Shares were worth $11,367,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the business. Brighton Jones LLC increased its holdings in shares of SPDR Gold Shares by 20.4% in the fourth quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after buying an additional 1,903 shares during the period. Bison Wealth LLC boosted its holdings in SPDR Gold Shares by 77.8% during the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after acquiring an additional 2,600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in SPDR Gold Shares during the 1st quarter valued at about $16,014,000. Schnieders Capital Management LLC. boosted its holdings in SPDR Gold Shares by 4.8% during the 2nd quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock valued at $1,829,000 after acquiring an additional 275 shares during the period. Finally, Prudential Financial Inc. bought a new position in SPDR Gold Shares during the 2nd quarter worth approximately $337,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of SPDR Gold Shares stock opened at $365.92 on Thursday. The business’s 50 day simple moving average is $413.92 and its two-hundred day simple moving average is $428.01. The stock has a market capitalization of $133.09 billion, a P/E ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a one year low of $299.89 and a one year high of $509.70.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold-backed ETFs saw their biggest weekly inflow since April, suggesting some investors are buying the dip in bullion exposure even after several weeks of outflows. Gold ETFs Just Saw Their Biggest Weekly Inflow Since April After $7.6 Billion Exodus
• Neutral Sentiment: Some analysts still argue the long-term gold bull market is not necessarily over, even though the metal is in a deep correction and struggling to hold key support around $4,000 an ounce. Gold’s 28% correction is painful, but history suggests the bull market isn’t over
• Neutral Sentiment: China’s gold imports hit a 26-month high in May, showing strong physical demand in the world’s largest gold market despite the recent price decline. China gold imports hit 26-month high in May, up 76% YTD
• Negative Sentiment: Gold broke below long-term support and key technical levels, raising the risk of a deeper correction and reinforcing the near-term bearish trend for GLD. Gold (XAU/USD) Price Forecast: Breakdown Signals Risk of Deeper Correction
• Negative Sentiment: Several reports say gold has slipped below $4,000 an ounce, with banks cutting forecasts as a stronger dollar, higher yields, and reduced safe-haven demand weigh on prices. ING Cuts Gold and Silver Forecasts as Rising Yields and Stronger Dollar Weigh on Prices
• Negative Sentiment: Gold fell to a seven-month low as the dollar strengthened on inflation and Fed-policy worries, which is the main reason GLD is trading lower today. Update: Gold Falls to a Seven-Month Low as the Dollar Climbs on Inflation Worries

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.