SteelPeak Wealth LLC Sells 4,344 Shares of SPDR Gold Shares $GLD

SteelPeak Wealth LLC lowered its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 39.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 6,638 shares of the exchange traded fund’s stock after selling 4,344 shares during the period. SteelPeak Wealth LLC’s holdings in SPDR Gold Shares were worth $2,856,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in GLD. Calder Financial LLC bought a new stake in SPDR Gold Shares during the 4th quarter valued at $807,000. Crescent Grove Advisors LLC lifted its stake in shares of SPDR Gold Shares by 25.3% in the fourth quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock valued at $6,230,000 after buying an additional 3,175 shares in the last quarter. Ervin Investment Management LLC acquired a new position in shares of SPDR Gold Shares during the fourth quarter valued at about $7,178,000. Cidel Asset Management Inc. grew its holdings in shares of 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 buying an additional 1,384 shares during the last quarter. Finally, Dakota Wealth Management increased its position in shares of SPDR Gold Shares by 89.3% during the fourth quarter. Dakota Wealth Management now owns 52,253 shares of the exchange traded fund’s stock worth $20,708,000 after acquiring an additional 24,648 shares in the last quarter. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Stock Performance

Shares of NYSEARCA GLD opened at $368.41 on Friday. SPDR Gold Shares has a fifty-two week low of $300.95 and a fifty-two week high of $509.70. The stock has a market cap of $129.31 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. The firm’s 50-day simple moving average is $393.74 and its 200 day simple moving average is $424.69.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Gold briefly rebounded near $4,000/oz after softer U.S. inflation expectations and stronger consumer sentiment, which can support demand for safe-haven assets. Spot gold hits session high near $4,000/oz after preliminary Consumer Sentiment rises to 54.4, one-year inflation expectations ease
• Positive Sentiment: Some analysts say the broader gold bull market is not over and that central-bank buying remains a structural support for prices over the long term. Gold Rises; Central Bank Buying Likely to Remain Structural Driver
• Neutral Sentiment: Teucrium launched a new physical gold ETF, adding more competition and product choice in the gold ETF space. Teucrium Launches TPMT, a New Physical Gold ETF With a 0.24% Fee
• Negative Sentiment: Gold has slipped to an eight-month low and is struggling to hold support, with traders focused on bearish technical levels near $3,942 and below. Gold (XAU/USD) Price Forecast: Bearish Pressure Builds Near Critical Support
• Negative Sentiment: Stronger U.S. economic data, rising Treasury yields, and a firmer dollar have reduced demand for gold as a defensive asset. Gold breaks $4,000 as yields rise, Fed-rate relief fades – Kitco PM Report
• Negative Sentiment: SPDR Gold Shares has seen heavy investor outflows since March, signaling fading appetite for GLD amid gold’s pullback. Largest U.S. gold ETF sees 14 billion in outflows since March, amid gold’s year-to-date pullback

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.