SPDR Gold Shares (NYSEARCA:GLD) Stock Short Interest Rises 71.8%

SPDR Gold Shares (NYSEARCA:GLD) was the recipient of a large increase in short interest in October. As of October 15th, there was short interest totaling 15,390,586 shares, an increase of 71.8% from the September 30th total of 8,957,421 shares. Currently, 4.1% of the company’s stock are short sold. Based on an average trading volume of 7,389,767 shares, the short-interest ratio is presently 2.1 days.

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD opened at $359.26 on Wednesday. The stock has a market capitalization of $131.17 billion, a P/E ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a 1-year low of $354.67 and a 1-year high of $509.70. The business has a fifty day moving average price of $387.99 and a 200 day moving average price of $412.34.

Hedge Funds Weigh In On SPDR Gold Shares

A number of large investors have recently added to or reduced their stakes in the company. First Eagle Investment Management LLC raised its holdings in shares of SPDR Gold Shares by 1.5% during the second quarter. First Eagle Investment Management LLC now owns 2,491,623 shares of the exchange traded fund’s stock valued at $917,864,000 after acquiring an additional 35,882 shares during the period. Envestnet Asset Management Inc. boosted its stake in SPDR Gold Shares by 0.5% in the 2nd quarter. Envestnet Asset Management Inc. now owns 1,169,683 shares of the exchange traded fund’s stock worth $430,888,000 after purchasing an additional 5,793 shares during the period. PPSC Investment Service Corp boosted its stake in SPDR Gold Shares by 2.2% in the 3rd quarter. PPSC Investment Service Corp now owns 789,050 shares of the exchange traded fund’s stock worth $300,502,000 after purchasing an additional 16,678 shares during the period. PNC Financial Services Group Inc. grew its position in SPDR Gold Shares by 1.8% during the 1st quarter. PNC Financial Services Group Inc. now owns 707,998 shares of the exchange traded fund’s stock worth $304,644,000 after purchasing an additional 12,415 shares in the last quarter. Finally, Bank of Korea purchased a new position in SPDR Gold Shares during the 2nd quarter worth approximately $250,411,831. 42.19% of the stock is currently owned by institutional investors.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Central-bank buying and investment demand offer fundamental support: the World Gold Council reported that central-bank purchases accelerated in the third quarter, reaching their fastest pace since late 2024, and said demand remains near record levels. Gold demand remains near record highs as central bank buying surges Central Banks Accelerated Gold Buying in Third Quarter
• Positive Sentiment: Commerzbank considers October’s sharp correction overdone, arguing that gold’s fundamental supports remain intact and the sell-off could present a buying opportunity. Gold’s October correction was overdone
• Negative Sentiment: Near-term trading signals remain weak. Gold has pulled back as Treasury yields rise and expectations of higher interest rates weigh on non-yielding bullion; analysts also cite resistance below $4,000 and the possibility of further downside. Continued weakness in gold could pressure GLD. Gold pulls back as selling resumes Critical support holds amid growing downside risk

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.