Evercore Wealth Management LLC Cuts Position in SPDR Gold Shares $GLD

Evercore Wealth Management LLC trimmed its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 2.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 72,330 shares of the exchange traded fund’s stock after selling 1,504 shares during the period. Evercore Wealth Management LLC’s holdings in SPDR Gold Shares were worth $31,123,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of GLD. KCM Investment Advisors LLC increased its position in shares of SPDR Gold Shares by 14.2% in the first quarter. KCM Investment Advisors LLC now owns 10,438 shares of the exchange traded fund’s stock worth $4,491,000 after acquiring an additional 1,299 shares in the last quarter. Infrastructure Capital Advisors LLC purchased a new position in shares of SPDR Gold Shares in the 1st quarter valued at $259,000. Quantinno Capital Management LP lifted its holdings in shares of SPDR Gold Shares by 101.4% during the 1st quarter. Quantinno Capital Management LP now owns 56,710 shares of the exchange traded fund’s stock valued at $24,402,000 after acquiring an additional 28,559 shares in the last quarter. Copley Financial Group Inc. lifted its holdings in shares of SPDR Gold Shares by 7.2% during the 1st quarter. Copley Financial Group Inc. now owns 731 shares of the exchange traded fund’s stock valued at $315,000 after acquiring an additional 49 shares in the last quarter. Finally, Lazard Asset Management LLC boosted its position in SPDR Gold Shares by 6.7% during the 1st quarter. Lazard Asset Management LLC now owns 107,144 shares of the exchange traded fund’s stock worth $46,103,000 after purchasing an additional 6,767 shares during the period. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Trading Up 0.7%

Shares of SPDR Gold Shares stock opened at $374.63 on Tuesday. SPDR Gold Shares has a twelve month low of $300.95 and a twelve month high of $509.70. The stock has a market cap of $132.28 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. The company has a fifty day moving average price of $387.31 and a 200 day moving average price of $423.66.

More SPDR Gold Shares News

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

• Positive Sentiment: Lower crude-oil prices following a pause in U.S.-Iran hostilities reduced near-term inflation pressure, while softer Treasury yields and a weaker U.S. dollar supported gold and GLD. Gold continues to hold $4,000 as U.S.-Iran pause pressures crude oil
• Positive Sentiment: Longer-term demand remains constructive: State Street said gold’s next major $1,000 move could be higher if Federal Reserve hawkishness has peaked, while central-bank purchases and ETF inflows continue to provide support. Gold’s next $1,000 move is likely higher as Fed hawkishness peaks
• Positive Sentiment: Asian demand, particularly from China, is viewed as an important source of support; BMO Capital Markets believes China’s gold holdings could surpass U.S. holdings within five years. China’s gold stockpile could surpass U.S. holdings
• Neutral Sentiment: Investors are awaiting the Federal Reserve decision and upcoming inflation data. Gold may consolidate around $4,000 until policymakers provide clearer guidance on interest rates. Gold and Silver Price Forecast: Fed Decision Could Trigger Next Breakout
• Negative Sentiment: Persistent expectations for restrictive Fed policy, coupled with weak Western demand, have limited gold’s upside. Gains also faded below $4,100, showing that a consistent safe-haven bid has not yet emerged. Gold remains stuck below $4,100

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.