Grove Bank & Trust Grows Stake in SPDR Gold Shares $GLD

Grove Bank & Trust boosted its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 9.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 26,171 shares of the exchange traded fund’s stock after acquiring an additional 2,241 shares during the quarter. SPDR Gold Shares comprises about 1.0% of Grove Bank & Trust’s investment portfolio, making the stock its 29th biggest position. Grove Bank & Trust’s holdings in SPDR Gold Shares were worth $9,641,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently added to or reduced their stakes in the stock. Brighton Jones LLC boosted its holdings in shares of SPDR Gold Shares by 20.4% in the 4th quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after purchasing an additional 1,903 shares during the period. Bison Wealth LLC raised its holdings in SPDR Gold Shares by 77.8% during the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after buying an additional 2,600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new stake in SPDR Gold Shares during the 1st quarter valued at $16,014,000. Schnieders Capital Management LLC. lifted its position in SPDR Gold Shares by 4.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock worth $1,829,000 after buying an additional 275 shares during the last quarter. Finally, Prudential Financial Inc. bought a new stake in SPDR Gold Shares in the second quarter worth $337,000. 42.19% of the stock is owned by institutional investors.

SPDR Gold Shares Stock Up 0.7%

NYSEARCA GLD opened at $374.16 on Wednesday. The company has a fifty day moving average of $382.26 and a two-hundred day moving average of $421.76. The firm has a market capitalization of $132.12 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 52 week low of $305.19 and a 52 week high of $509.70.

More SPDR Gold Shares News

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

• Positive Sentiment: Cooling labor data supports gold: June JOLTS job openings fell more than expected to 7.36 million, reinforcing expectations that weaker employment could eventually give the Federal Reserve room to ease policy. Gold also remains supported ahead of Friday’s nonfarm payrolls report. Gold price catching a bid as JOLTS job openings drop to 7.36 million
• Positive Sentiment: Structural demand remains strong: The Bank of Korea began a long-term domestic gold-buying program, adding to record central-bank demand. Central banks purchased about 289 metric tonnes in the second quarter, while Tether added roughly 14 tonnes and increased its physical gold holdings above 146 tonnes. These purchases provide a longer-term support base for GLD. Bank of Korea starts long-term domestic gold buying program
• Positive Sentiment: Technical momentum is improving: Gold is holding above its 20-day moving average, with resistance near $4,166 and $4,203. A break above those levels could attract additional buying and improve sentiment toward GLD. Gold XAU/USD Price Forecast: Can Gold Break Above $4,203?
• Neutral Sentiment: Investors remain focused on competing macro signals: Safe-haven demand related to Middle East tensions and shifting Fed expectations is supporting gold, but improving U.S. activity data and uncertainty ahead of payrolls are keeping the metal in a broad range near the $4,000 area. Gold Rises; Focus on U.S. Labor Data
• Negative Sentiment: Yields and fund flows remain headwinds: Higher real and long-term Treasury yields increase the opportunity cost of holding non-yielding gold. GLD also saw reported outflows of nearly $113 million, indicating that some investors are favoring income-producing assets. Tether Strikes Gold: Crypto’s Physical Pivot

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.