Glen Eagle Advisors LLC Has $1.53 Million Stock Position in SPDR Gold Shares $GLD

Glen Eagle Advisors LLC lessened its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 77.7% in the first quarter, HoldingsChannel reports. The fund owned 3,560 shares of the exchange traded fund’s stock after selling 12,413 shares during the period. Glen Eagle Advisors LLC’s holdings in SPDR Gold Shares were worth $1,532,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Quantinno Capital Management LP increased its holdings in shares of SPDR Gold Shares by 101.4% during the first quarter. Quantinno Capital Management LP now owns 56,710 shares of the exchange traded fund’s stock worth $24,402,000 after purchasing an additional 28,559 shares during the period. Copley Financial Group Inc. boosted its stake in shares of SPDR Gold Shares by 7.2% in the first quarter. Copley Financial Group Inc. now owns 731 shares of the exchange traded fund’s stock valued at $315,000 after buying an additional 49 shares during the period. Lazard Asset Management LLC grew its position in SPDR Gold Shares by 6.7% during the first quarter. Lazard Asset Management LLC now owns 107,144 shares of the exchange traded fund’s stock worth $46,103,000 after buying an additional 6,767 shares in the last quarter. Cardiff Park Advisors LLC acquired a new stake in SPDR Gold Shares during the first quarter worth approximately $12,253,000. Finally, Gateway Wealth Partners LLC increased its stake in SPDR Gold Shares by 358.2% during the 1st quarter. Gateway Wealth Partners LLC now owns 36,184 shares of the exchange traded fund’s stock worth $15,570,000 after acquiring an additional 28,287 shares during the period. 42.19% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting SPDR Gold Shares

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 Price Performance

SPDR Gold Shares stock opened at $374.63 on Tuesday. The firm has a market cap of $132.28 billion, a PE ratio of -32.43 and a beta of 0.17. The stock’s fifty day moving average price is $387.31 and its two-hundred day moving average price is $423.66. SPDR Gold Shares has a one year low of $300.95 and a one year high of $509.70.

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.