Marnell Management LLC Buys Shares of 6,700 SPDR Gold Shares $GLD

Marnell Management LLC bought a new stake in shares of SPDR Gold Shares (NYSEARCA:GLD) in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 6,700 shares of the exchange traded fund’s stock, valued at approximately $2,655,000. SPDR Gold Shares comprises 1.3% of Marnell Management LLC’s investment portfolio, making the stock its 20th biggest position.

Several other hedge funds have also bought and sold shares of the stock. Morgan Stanley lifted its holdings in shares of SPDR Gold Shares by 22.4% in the 4th quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock worth $5,506,229,000 after acquiring an additional 2,539,266 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of SPDR Gold Shares in the 3rd quarter worth approximately $556,282,000. Corient Private Wealth LLC lifted its holdings in shares of SPDR Gold Shares by 108.1% in the 2nd quarter. Corient Private Wealth LLC now owns 1,077,230 shares of the exchange traded fund’s stock worth $327,500,000 after acquiring an additional 559,507 shares during the last quarter. Axxcess Wealth Management LLC lifted its holdings in shares of SPDR Gold Shares by 1,158.4% in the 4th quarter. Axxcess Wealth Management LLC now owns 504,462 shares of the exchange traded fund’s stock worth $199,923,000 after acquiring an additional 464,376 shares during the last quarter. Finally, OpenArc Corporate Advisory LLC bought a new stake in shares of SPDR Gold Shares in the 4th quarter worth approximately $164,823,000. 42.19% of the stock is currently owned by institutional investors.

SPDR Gold Shares Stock Performance

Shares of GLD opened at $386.54 on Monday. The firm has a market cap of $140.58 billion, a price-to-earnings ratio of -32.43 and a beta of 0.14. SPDR Gold Shares has a fifty-two week low of $299.89 and a fifty-two week high of $509.70. The firm has a 50 day moving average price of $421.49 and a 200-day moving average price of $428.01.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold is showing signs of a rebound after holding major support, suggesting buyers are stepping in after the recent selloff. Gold (XAU/USD) Price Forecast: Failed Breakdown Hints at Rebound
• Positive Sentiment: Safe-haven demand improved as Middle East tensions persisted and U.S.-Iran talk headlines supported a bid for precious metals. Gold and Silver Price Forecast: US-Iran Deal Hopes Lift XAUUSD and XAGUSD
• Positive Sentiment: Gold held key support around $4,000, and analysts said that level may act as a floor as investors cautiously return to the trade. Gold holds key $4,000 support as analysts watch for signs of a bottom
• Neutral Sentiment: The CME plans to offer 24/7 gold trading, which could improve access and liquidity but does not directly change fundamentals. CME to offer 24/7 gold and oil trading
• Neutral Sentiment: Gold remains caught between bargain-hunting support and macro pressure from higher-for-longer rate expectations and stronger U.S. inflation readings. Spot gold at $4,062/oz after U.S. May PPI rises 1.1%, core PPI up 0.4%
• Negative Sentiment: Several reports warn that gold remains under pressure from a stronger dollar, elevated yields, and fears the Fed may keep rates restrictive, which could limit any recovery in GLD. Gold slumps to 6-month low even as inflation fears rise. Here’s why bullion is out of favor

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.