Kovack Advisors Inc. Trims Stock Position in SPDR Gold Shares $GLD

Kovack Advisors Inc. lessened its stake in SPDR Gold Shares (NYSEARCA:GLD) by 9.0% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 27,702 shares of the exchange traded fund’s stock after selling 2,733 shares during the period. Kovack Advisors Inc.’s holdings in SPDR Gold Shares were worth $10,240,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of GLD. W.G. Shaheen & Associates DBA Whitney & Co grew its holdings in SPDR Gold Shares by 0.6% during the second quarter. W.G. Shaheen & Associates DBA Whitney & Co now owns 14,142 shares of the exchange traded fund’s stock worth $5,210,000 after acquiring an additional 86 shares during the period. Paragon Private Wealth Management LLC lifted its holdings in SPDR Gold Shares by 9.3% in the second quarter. Paragon Private Wealth Management LLC now owns 4,262 shares of the exchange traded fund’s stock valued at $1,570,000 after acquiring an additional 363 shares during the period. Elm Partners Management LLC lifted its holdings in SPDR Gold Shares by 3.7% in the second quarter. Elm Partners Management LLC now owns 870 shares of the exchange traded fund’s stock valued at $320,000 after acquiring an additional 31 shares during the period. Atria Investments Inc boosted its position in SPDR Gold Shares by 17.9% in the 2nd quarter. Atria Investments Inc now owns 316,251 shares of the exchange traded fund’s stock worth $116,500,000 after purchasing an additional 48,054 shares in the last quarter. Finally, Angeles Wealth Management LLC boosted its position in SPDR Gold Shares by 52.5% in the 2nd quarter. Angeles Wealth Management LLC now owns 14,217 shares of the exchange traded fund’s stock worth $5,237,000 after purchasing an additional 4,897 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: July U.S. retail sales unexpectedly fell 0.6%, while preliminary August consumer sentiment dropped to 51 versus a 54.5 consensus forecast. The weaker data increased expectations that the Fed may hold rates steady in September, supporting non-yielding gold. Gold rallies after retail sales drop
• Positive Sentiment: Cooling inflation is also helping gold: July headline PPI was flat, and recent CPI and PPI readings have reduced rate-hike concerns. A softer dollar and lower real-rate expectations generally make gold more attractive. Gold rebounds as dollar pulls back
• Positive Sentiment: Longer-term demand remains constructive. UBS strategists said gold could challenge $5,000 per ounce in the first half of 2027, citing lower real rates, a weaker dollar and strong sovereign and central-bank buying. The Bank of Korea also reported a $250 million holding in SPDR Gold Shares, its first gold-linked purchase since 2013. UBS sees gold challenging $5,000
• Neutral Sentiment: Investors are awaiting Federal Reserve meeting minutes, housing data and manufacturing PMI figures next week. These releases could cause volatility by changing views on economic growth and future interest rates. Gold looks to Fed minutes and economic data
• Negative Sentiment: Gold has struggled to extend its rebound near the $4,450–$4,500 resistance zone. Technical analysts warn that a pullback may be needed before another advance, while profit-taking, Treasury yields and geopolitical developments could cap gains. Gold pullback risk after resistance test

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD opened at $401.48 on Friday. The stock has a market capitalization of $141.76 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 12 month low of $305.19 and a 12 month high of $509.70. The firm’s 50 day simple moving average is $380.45 and its 200-day simple moving average is $419.72.

SPDR Gold Shares 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.