Symphony Financial Ltd. Co. Sells 15,356 Shares of SPDR Gold Shares $GLD

Symphony Financial Ltd. Co. decreased its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 38.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 24,784 shares of the exchange traded fund’s stock after selling 15,356 shares during the quarter. SPDR Gold Shares makes up about 1.0% of Symphony Financial Ltd. Co.’s holdings, making the stock its 25th biggest position. Symphony Financial Ltd. Co.’s holdings in SPDR Gold Shares were worth $9,135,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of GLD. City Holding Co. increased its holdings in shares of SPDR Gold Shares by 41.6% during the 2nd quarter. City Holding Co. now owns 22,914 shares of the exchange traded fund’s stock valued at $8,441,000 after acquiring an additional 6,733 shares during the last quarter. DDFG Inc lifted its holdings in SPDR Gold Shares by 57.5% in the 2nd quarter. DDFG Inc now owns 48,753 shares of the exchange traded fund’s stock worth $17,959,000 after purchasing an additional 17,793 shares during the last quarter. Crescent Grove Advisors LLC boosted its position in SPDR Gold Shares by 25.3% during the fourth quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock worth $6,230,000 after purchasing an additional 3,175 shares during the period. Arcus Capital Partners LLC boosted its position in SPDR Gold Shares by 90.3% during the first quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock worth $3,633,000 after purchasing an additional 4,005 shares during the period. Finally, Cidel Asset Management Inc. grew its holdings in SPDR Gold Shares by 69.8% during the first quarter. Cidel Asset Management Inc. now owns 3,368 shares of the exchange traded fund’s stock valued at $1,449,000 after purchasing an additional 1,384 shares during the last quarter. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Down 2.9%

NYSEARCA:GLD opened at $396.75 on Wednesday. The company’s 50 day moving average is $386.75 and its 200-day moving average is $415.38. SPDR Gold Shares has a 12 month low of $320.24 and a 12 month high of $509.70. The firm has a market cap of $140.09 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

More SPDR Gold Shares News

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

• Positive Sentiment: Investors continue to use gold ETFs as portfolio hedges alongside U.S. large-cap equities, while strong August ETF flows indicate ongoing demand for physical gold exposure. Investors Are Balancing S&P 500 Growth With Gold Hedges
• Positive Sentiment: Goldman Sachs maintained a $4,900 price target, citing continued central-bank purchases, while analysts said commodity-led inflation, expanding money supply and fiscal concerns could support gold over the longer term. Gold Drops 5.5% From 3-Month High but Goldman Sachs Still Sees 10% Upside
• Neutral Sentiment: GLD’s outlook is at a technical crossroads: gold breached several short-term moving averages and is testing support around $4,311–$4,350. A hold could support a rebound, while a break may expose a pullback toward approximately $4,215. Gold Price Tests Critical $4,311 Support After Sharp Drop
• Negative Sentiment: Markets raised the probability of a September Federal Reserve rate hike to roughly 66%–70% after hawkish policy signals. Higher expected rates and rising global bond yields increased the opportunity cost of holding non-yielding gold. Gold tests $4,311 support as Fed-hike odds hold near 66%
• Negative Sentiment: A surge in crude oil prices linked to renewed U.S.-Iran tensions fueled inflation concerns, pushed yields higher and strengthened the dollar. Although geopolitical risk normally benefits gold, the rate and currency effects currently outweigh safe-haven demand. Gold price hits two-week low as Warsh repricing and oil shock lift yields

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.