Canal Capital Management LLC Reduces Holdings in SPDR Gold Shares $GLD

Canal Capital Management LLC lowered its position in SPDR Gold Shares (NYSEARCA:GLD) by 31.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,933 shares of the exchange traded fund’s stock after selling 1,346 shares during the quarter. Canal Capital Management LLC’s holdings in SPDR Gold Shares were worth $1,262,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Turtle Creek Wealth Advisors LLC increased its holdings in SPDR Gold Shares by 78.4% during the 1st quarter. Turtle Creek Wealth Advisors LLC now owns 3,983 shares of the exchange traded fund’s stock worth $1,714,000 after purchasing an additional 1,751 shares during the last quarter. F&V Capital Management LLC bought a new position in SPDR Gold Shares during the 1st quarter worth approximately $2,810,000. Gordian Advisors LLC acquired a new position in shares of SPDR Gold Shares in the 1st quarter worth approximately $394,000. Elevation Point Wealth Partners LLC grew its position in shares of SPDR Gold Shares by 54.1% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 306,968 shares of the exchange traded fund’s stock worth $132,085,000 after acquiring an additional 107,799 shares in the last quarter. Finally, Platform Technology Partners increased its holdings in shares of SPDR Gold Shares by 13.2% in the 1st quarter. Platform Technology Partners now owns 11,627 shares of the exchange traded fund’s stock valued at $5,003,000 after acquiring an additional 1,352 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

Key SPDR Gold Shares News

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

• Positive Sentiment: Gold surged after the June employment report missed expectations, easing Fed rate-hike fears and boosting precious metals demand. Gold and silver rally as NFP miss dents Fed-hike bets – Kitco AM Report
• Positive Sentiment: Gold held and extended gains above key technical levels, with traders seeing recovery signals and short-covering into a thin holiday-session tape. Gold (XAU/USD) Price Forecast: Above Trendline Signals Recovery
• Positive Sentiment: Central bank buying remained a major support, with the World Gold Council reporting net purchases of 41 tonnes in May and multiple strategists citing diversification demand and ETF inflows as tailwinds. Central banks boost gold reserves with net 41 tonnes purchased in May – World Gold Council
• Positive Sentiment: Market commentary from HSBC and State Street pointed to further upside for gold into year-end, citing ongoing central-bank demand, ETF inflows, and diversification buying. ‘We anticipate further upside for gold by year-end’ – HSBC’s Sels and Ku
• Neutral Sentiment: Some analysts noted that high yields and a strong dollar still cap upside in the near term, even though the longer-term backdrop remains constructive. State Street’s baseline scenario sees gold price as high as $5,500/oz by Q1 2027
• Negative Sentiment: Price forecasts also highlighted resistance near recent highs and moving averages, suggesting GLD could face pauses if the current macro-driven rally loses momentum. Gold (XAU/USD) Price Forecast: Resistance Cluster Caps Upside Momentum

SPDR Gold Shares Stock Performance

GLD stock opened at $378.13 on Friday. The firm has a market cap of $133.10 billion, a P/E ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 12-month low of $300.95 and a 12-month high of $509.70. The stock’s 50 day simple moving average is $404.49 and its 200 day simple moving average is $426.91.

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.