Provenance Wealth Advisors LLC increased its stake in shares of SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 66.5% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,234 shares of the exchange traded fund’s stock after acquiring an additional 1,691 shares during the quarter. Provenance Wealth Advisors LLC’s holdings in SPDR Gold Shares were worth $1,612,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. First Eagle Investment Management LLC increased its holdings in shares of SPDR Gold Shares by 1.5% during the 2nd quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock worth $917,864,000 after purchasing an additional 35,882 shares during the period. Envestnet Asset Management Inc. grew its position in SPDR Gold Shares by 0.5% during the second quarter. Envestnet Asset Management Inc. now owns 1,169,683 shares of the exchange traded fund’s stock worth $430,888,000 after buying an additional 5,793 shares in the last quarter. PPSC Investment Service Corp grew its position in SPDR Gold Shares by 2.2% during the third quarter. PPSC Investment Service Corp now owns 789,050 shares of the exchange traded fund’s stock worth $300,502,000 after buying an additional 16,678 shares in the last quarter. PNC Financial Services Group Inc. grew its position in SPDR Gold Shares by 1.8% during the first quarter. PNC Financial Services Group Inc. now owns 707,998 shares of the exchange traded fund’s stock worth $304,644,000 after buying an additional 12,415 shares in the last quarter. Finally, Bank of Korea acquired a new stake in SPDR Gold Shares during the second quarter worth about $250,411,831. 42.19% of the stock is currently owned by institutional investors and hedge funds.
SPDR Gold Shares Stock Down 0.7%
Shares of GLD opened at $359.26 on Wednesday. The stock’s 50-day moving average price is $387.99 and its 200 day moving average price is $412.34. The firm has a market capitalization of $131.17 billion, a price-to-earnings ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a 12-month low of $354.67 and a 12-month high of $509.70.
Key Headlines Impacting SPDR Gold Shares
- Positive Sentiment: Central-bank buying and investment demand offer fundamental support: the World Gold Council reported that central-bank purchases accelerated in the third quarter, reaching their fastest pace since late 2024, and said demand remains near record levels. Gold demand remains near record highs as central bank buying surges Central Banks Accelerated Gold Buying in Third Quarter
- Positive Sentiment: Commerzbank considers October’s sharp correction overdone, arguing that gold’s fundamental supports remain intact and the sell-off could present a buying opportunity. Gold’s October correction was overdone
- Negative Sentiment: Near-term trading signals remain weak. Gold has pulled back as Treasury yields rise and expectations of higher interest rates weigh on non-yielding bullion; analysts also cite resistance below $4,000 and the possibility of further downside. Continued weakness in gold could pressure GLD. Gold pulls back as selling resumes Critical support holds amid growing downside risk
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.
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