SPDR Gold Shares $GLD Shares Sold by Elite Wealth Management Inc.

Elite Wealth Management Inc. reduced its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 6.3% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 22,226 shares of the exchange traded fund’s stock after selling 1,503 shares during the quarter. SPDR Gold Shares accounts for approximately 3.1% of Elite Wealth Management Inc.’s portfolio, making the stock its 10th largest position. Elite Wealth Management Inc.’s holdings in SPDR Gold Shares were worth $9,564,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of SPDR Gold Shares by 20.4% during the 4th 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 raised its position in shares of SPDR Gold Shares by 77.8% in 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 bought a new position in SPDR Gold Shares during the 1st quarter worth approximately $16,014,000. Schnieders Capital Management LLC. boosted its stake 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 worth $1,829,000 after acquiring an additional 275 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new position in SPDR Gold Shares during the second quarter valued at approximately $337,000. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

Shares of NYSEARCA:GLD opened at $374.63 on Tuesday. SPDR Gold Shares has a 52 week low of $300.95 and a 52 week high of $509.70. The company has a market capitalization of $132.28 billion, a PE ratio of -32.43 and a beta of 0.17. The company has a 50 day moving average price of $387.31 and a two-hundred day moving average price of $423.66.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Lower crude-oil prices following a pause in U.S.-Iran hostilities reduced near-term inflation pressure, while softer Treasury yields and a weaker U.S. dollar supported gold and GLD. Gold continues to hold $4,000 as U.S.-Iran pause pressures crude oil
• Positive Sentiment: Longer-term demand remains constructive: State Street said gold’s next major $1,000 move could be higher if Federal Reserve hawkishness has peaked, while central-bank purchases and ETF inflows continue to provide support. Gold’s next $1,000 move is likely higher as Fed hawkishness peaks
• Positive Sentiment: Asian demand, particularly from China, is viewed as an important source of support; BMO Capital Markets believes China’s gold holdings could surpass U.S. holdings within five years. China’s gold stockpile could surpass U.S. holdings
• Neutral Sentiment: Investors are awaiting the Federal Reserve decision and upcoming inflation data. Gold may consolidate around $4,000 until policymakers provide clearer guidance on interest rates. Gold and Silver Price Forecast: Fed Decision Could Trigger Next Breakout
• Negative Sentiment: Persistent expectations for restrictive Fed policy, coupled with weak Western demand, have limited gold’s upside. Gains also faded below $4,100, showing that a consistent safe-haven bid has not yet emerged. Gold remains stuck below $4,100

SPDR Gold Shares Company 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.