BCM Advisors LLC Has $80.09 Million Stake in SPDR Gold Shares $GLD

BCM Advisors LLC trimmed its stake in SPDR Gold Shares (NYSEARCA:GLD) by 6.7% in the 1st quarter, HoldingsChannel reports. The firm owned 193,125 shares of the exchange traded fund’s stock after selling 13,896 shares during the quarter. SPDR Gold Shares accounts for 15.6% of BCM Advisors LLC’s portfolio, making the stock its 2nd biggest position. BCM Advisors LLC’s holdings in SPDR Gold Shares were worth $80,091,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Corient Private Wealth LLC raised its stake in SPDR Gold Shares by 571.3% in the fourth quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock worth $1,565,118,000 after buying an additional 3,360,966 shares in the last quarter. Morgan Stanley boosted its position in SPDR Gold Shares by 22.4% during the 4th quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock valued at $5,506,229,000 after acquiring an additional 2,539,266 shares in the last quarter. Virtu Financial LLC purchased a new position in shares of SPDR Gold Shares during the 4th quarter worth approximately $474,952,000. Marino Management LLC purchased a new position in shares of SPDR Gold Shares during the 4th quarter worth approximately $438,475,000. Finally, Diamant Asset Management Inc. raised its position in shares of SPDR Gold Shares by 42,929.0% in the 1st quarter. Diamant Asset Management Inc. now owns 697,070 shares of the exchange traded fund’s stock worth $299,942,000 after acquiring an additional 695,450 shares in the last quarter. Institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

Shares of NYSEARCA:GLD opened at $364.96 on Friday. The firm has a market capitalization of $128.17 billion, a P/E ratio of -32.43 and a beta of 0.17. The stock has a 50 day moving average price of $395.05 and a 200-day moving average price of $425.09. SPDR Gold Shares has a 52-week low of $300.95 and a 52-week high of $509.70.

Key Headlines Impacting SPDR Gold Shares

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

• Negative Sentiment: U.S. retail sales, jobless claims, and regional manufacturing data all came in stronger than expected, supporting the dollar and yields while weighing on gold. Update: Gold Trades Lower, Dollar and Yields Rise as US Retail Sales Growth Eased in June
• Negative Sentiment: Spot gold slipped below key psychological support near $4,000 as traders reacted to firmer yields and a stronger dollar, suggesting more near-term downside for bullion. Gold and silver fall as Fed-rate relief fades after data – Kitco AM Report
• Negative Sentiment: Multiple market reports flagged technical weakness, with gold breaking down from resistance and traders watching for deeper support levels if selling continues. Gold (XAU/USD) Price Forecast: Will Gold Break Below Major Support Levels?
• Negative Sentiment: GLD-specific flow data also looks unfavorable, with reports of roughly $14 billion to $15 billion in investor outflows since March, raising concerns about demand for the ETF itself. SPDR Gold Shares ETF sees $14B outflows since March 1 amid cost concerns

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.