SPDR Gold Shares $GLD Stock Position Lessened by SVB Wealth LLC

SVB Wealth LLC trimmed its holdings in shares of SPDR Gold Shares (NYSEARCA:GLD) by 35.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,815 shares of the exchange traded fund’s stock after selling 4,938 shares during the period. SVB Wealth LLC’s holdings in SPDR Gold Shares were worth $3,493,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. WPG Advisers LLC bought a new position in SPDR Gold Shares in the 4th quarter valued at about $25,000. Hopwood Financial Services Inc. bought a new stake in shares of SPDR Gold Shares during the 3rd quarter worth about $27,000. Vestwell Advisors LLC acquired a new stake in shares of SPDR Gold Shares in the 3rd quarter worth approximately $27,000. USA Financial Formulas acquired a new stake in shares of SPDR Gold Shares in the 4th quarter worth approximately $31,000. Finally, Networth Advisors LLC bought a new position in shares of SPDR Gold Shares in the fourth quarter valued at approximately $34,000. 42.19% of the stock is currently owned by institutional investors.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold moved higher after U.S. labor data came in softer than expected, including weekly jobless claims and April payroll growth, which helped push Treasury yields lower and boosted demand for non-yielding assets like gold. Gold prices catch a solid bid after U.S. economy created 115k jobs in April
• Positive Sentiment: Spot gold hit session highs after the University of Michigan consumer sentiment index fell and inflation expectations eased, reinforcing hopes that interest rates may remain under pressure. Spot gold hits session high after preliminary Consumer Sentiment drops to 48.2, one-year inflation expectations dip to 4.5%
• Positive Sentiment: Reports that China and other central banks continue buying gold support the longer-term investment case for bullion and may underpin demand for GLD. China and other central banks continue buy the dip in gold
• Positive Sentiment: Gold also benefited from falling oil prices, lower Treasury yields, and safe-haven buying tied to U.S.-Iran tensions, all of which improved sentiment toward precious metals. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Moves Higher Amid Falling Treasury Yields
• Neutral Sentiment: Several commentary pieces highlighted strong momentum in gold and silver, but also noted that the move may need a clearer breakout to confirm a more durable rally. Gold and Silver Technical Analysis: Peace Hopes Lift Metals Ahead of Jobs Data
• Negative Sentiment: One risk for GLD is that optimism around a potential U.S.-Iran peace deal could reduce safe-haven demand and cap further upside in gold prices. Gold News: Gold Rally Fades as Oil Rebounds and Treasury Yields Turn Higher

SPDR Gold Shares Price Performance

NYSEARCA GLD opened at $433.77 on Monday. SPDR Gold Shares has a 12 month low of $291.78 and a 12 month high of $509.70. The firm has a market capitalization of $157.76 billion, a PE ratio of -32.43 and a beta of 0.15. The company’s 50 day simple moving average is $441.30 and its 200 day simple moving average is $421.23.

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.