SPDR Gold Shares Sees Unusually Large Options Volume (NYSEARCA:GLD)

SPDR Gold Shares (NYSEARCA:GLD) was the recipient of some unusual options trading activity on Thursday. Traders bought 534,997 call options on the stock. This represents an increase of approximately 76% compared to the typical daily volume of 304,540 call options.

Hedge Funds Weigh In On SPDR Gold Shares

Hedge funds and other institutional investors have recently made changes to their positions in the business. Syon Capital LLC raised its position in SPDR Gold Shares by 13.6% in the second quarter. Syon Capital LLC now owns 39,808 shares of the exchange traded fund’s stock valued at $14,664,000 after purchasing an additional 4,758 shares during the period. TD Waterhouse Canada Inc. boosted its position in shares of SPDR Gold Shares by 10.4% in the second quarter. TD Waterhouse Canada Inc. now owns 336,179 shares of the exchange traded fund’s stock worth $124,663,000 after buying an additional 31,753 shares during the period. Barlow Wealth Partners LLC boosted its position in shares of SPDR Gold Shares by 6.0% in the second quarter. Barlow Wealth Partners LLC now owns 1,646 shares of the exchange traded fund’s stock worth $616,000 after buying an additional 93 shares during the period. Power Wealth Management LLC grew its stake in shares of SPDR Gold Shares by 170.8% in the second quarter. Power Wealth Management LLC now owns 3,648 shares of the exchange traded fund’s stock valued at $1,344,000 after buying an additional 2,301 shares in the last quarter. Finally, Burford Brothers Inc. grew its stake in shares of SPDR Gold Shares by 50.3% in the second quarter. Burford Brothers Inc. now owns 1,324 shares of the exchange traded fund’s stock valued at $488,000 after buying an additional 443 shares in the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 2.0%

Shares of GLD stock opened at $423.36 on Friday. SPDR Gold Shares has a fifty-two week low of $306.43 and a fifty-two week high of $509.70. The firm’s 50 day moving average price is $382.88 and its two-hundred day moving average price is $417.49. The stock has a market cap of $149.49 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Gold climbed back above $4,600 per ounce after the Treasury expanded long-duration bond buybacks. Investors interpreted the move as an effort to contain borrowing costs, pressuring the dollar and supporting non-yielding assets such as gold. Gold Above $4,600 on Weaker Dollar, Debt Fears
• Positive Sentiment: Gold is heading toward a weekly gain of roughly 5%, aided by bond-market jitters, fiscal concerns and dollar weakness. Technical momentum also improved as bullion moved above its 200-day moving average and key resistance levels. Gold rebounds as bond jitters, debt fears and weaker dollar revive bullion demand
• Positive Sentiment: Ray Dalio recommended reducing bond exposure and increasing allocations to gold and Bitcoin, arguing that recent Treasury actions indicate a debt crisis may be approaching. The comments reinforce the safe-haven investment case for GLD. Ray Dalio recommends gold and bitcoin
• Positive Sentiment: Unusually heavy bullish options activity signals increased speculative interest in GLD, with call-option volume about 76% above its average. Traders purchase GLD call options
• Neutral Sentiment: Next week’s July PCE inflation report and Federal Reserve Chair Kevin Warsh’s Jackson Hole speech could drive volatility by changing expectations for interest rates and the dollar. Gold looks to PCE inflation and Jackson Hole
• Negative Sentiment: Stronger-than-expected U.S. economic data, including an August composite PMI of 56.0, could support the dollar and reduce expectations for Federal Reserve easing, creating a potential short-term headwind for gold and GLD. Spot gold holds above $4,585

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.