SPDR Gold Shares (NYSEARCA:GLD) Sees Large Growth in Short Interest

SPDR Gold Shares (NYSEARCA:GLD) was the target of a large growth in short interest in the month of June. As of June 15th, there was short interest totaling 15,662,128 shares, a growth of 72.1% from the May 31st total of 9,100,030 shares. Based on an average trading volume of 8,486,743 shares, the days-to-cover ratio is presently 1.8 days. Currently, 4.3% of the shares of the company are sold short.

Institutional Trading of SPDR Gold Shares

A number of institutional investors have recently added to or reduced their stakes in the stock. Corient Private Wealth LLC lifted its stake in SPDR Gold Shares by 571.3% in the fourth quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock worth $1,565,118,000 after purchasing an additional 3,360,966 shares during the last quarter. Morgan Stanley increased its holdings in shares of SPDR Gold Shares by 22.4% in the fourth quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock worth $5,506,229,000 after buying an additional 2,539,266 shares during the period. Bank of Montreal Can purchased a new position in shares of SPDR Gold Shares in the third quarter worth about $556,282,000. Virtu Financial LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter valued at about $474,952,000. Finally, Marino Management LLC purchased a new stake in SPDR Gold Shares during the 4th quarter valued at about $438,475,000. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold rallied after June jobs data came in weaker than expected, boosting hopes that the Fed may stay cautious on rate hikes and lifting bullion prices. Gold and silver rally as NFP miss dents Fed-hike bets – Kitco AM Report
• Positive Sentiment: Gold moved above the key $4,100 level as U.S. labor market momentum softened, adding to demand for defensive assets like GLD. Gold price jumps above $4,100 as U.S. economy created 57k jobs in June
• Positive Sentiment: Analysts continue to highlight central-bank buying, constrained mine supply, and official-sector demand as important supports for gold prices. Gold (XAUUSD) & Silver Price Forecast: Gold Holds $4,000 Triple Bottom as Silver Tests $60 Ahead of NFP — Next Leg?
• Neutral Sentiment: Several reports argue gold remains in a volatile consolidation phase, with gains capped by still-elevated interest rates and a firmer Treasury-yield backdrop. Gold Price Analysis – Gold Gains Capped by Persistent High Interest Rates
• Neutral Sentiment: Some commentary warns GLD investors to weigh gold’s safety appeal against fees and the fact that the ETF itself does not generate income or dividends. GLD’s 0.40% Fee Quietly Costs You $40 Per Year on Every $10,000 While Cheaper Rivals Charge Half
• Negative Sentiment: Some analysts still describe gold’s recent trend as bearish or in consolidation, noting that resistance and higher rates could limit upside in the near term. Gold (XAU/USD) Price Forecast: Downtrend Holds Amid Resistance Test

SPDR Gold Shares Price Performance

Shares of SPDR Gold Shares stock traded up $7.69 during trading hours on Thursday, reaching $378.29. The company had a trading volume of 6,133,345 shares, compared to its average volume of 13,149,306. SPDR Gold Shares has a one year low of $300.95 and a one year high of $509.70. The business has a fifty day simple moving average of $406.66 and a 200 day simple moving average of $427.37. The firm has a market cap of $133.16 billion, a PE ratio of -32.43 and a beta of 0.17.

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.