CI Investments Inc. Grows Stake in SPDR Gold Shares $GLD

CI Investments Inc. boosted its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 96.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 282,364 shares of the exchange traded fund’s stock after acquiring an additional 138,846 shares during the quarter. CI Investments Inc. owned about 0.08% of SPDR Gold Shares worth $121,498,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. WPG Advisers LLC bought a new position in shares of SPDR Gold Shares during the 4th quarter valued at approximately $25,000. Timmons Wealth Management LLC bought a new stake in SPDR Gold Shares in the fourth quarter worth $26,000. Eukles Asset Management purchased a new position in SPDR Gold Shares during the fourth quarter worth $27,000. Private Wealth Management Group LLC bought a new position in SPDR Gold Shares during the first quarter valued at $30,000. Finally, USA Financial Formulas bought a new position in SPDR Gold Shares during the fourth quarter valued at $31,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Trading Up 2.0%

Shares of GLD opened at $374.81 on Wednesday. SPDR Gold Shares has a twelve month low of $300.95 and a twelve month high of $509.70. The company has a market cap of $131.56 billion, a P/E ratio of -32.43 and a beta of 0.17. The company’s fifty day simple moving average is $391.24 and its 200-day simple moving average is $424.50.

More SPDR Gold Shares News

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

• Positive Sentiment: Gold prices recovered as buyers stepped in after the recent selloff, with analysts noting strong support from short covering, safe-haven demand, and ongoing central bank buying. Gold rallies as buyers ignore higher yields, oil shock – Kitco PM Report
• Positive Sentiment: Gold found support around $4,000 and traded higher even as Treasury yields and the U.S. dollar remained firm, suggesting resilient demand for the metal. Update: Gold Trading Higher, Finds Support at $4,000 Even as Dollar and Yields Rise
• Positive Sentiment: Market strategists and analysts said gold’s risk/reward profile has improved, with downside appearing more limited while long-term upside remains supported by central-bank demand and geopolitical uncertainty. Central bank gold demand has ‘very long runway’ as East/West market split returns – Schroders
• Neutral Sentiment: Some commentary noted that GLD remains the most liquid and widely used gold ETF, though it also pointed to its 0.40% expense ratio as a long-term drag versus cheaper alternatives. Gold Has Doubled in Less Than Two Years. Which ETF is Better to Play the Historic Rally, GLD or SGDM?
• Neutral Sentiment: Broader coverage highlighted that gold is still balancing safe-haven buying against higher-for-longer rate concerns, which could keep GLD volatile if yields and the dollar strengthen again. Gold Falls Amid Higher-For-Longer Interest-Rate Expectations

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.