Ethos Financial Group LLC Has $11.32 Million Position in SPDR Gold Shares $GLD

Ethos Financial Group LLC cut its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 24.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 26,833 shares of the exchange traded fund’s stock after selling 8,855 shares during the period. SPDR Gold Shares accounts for approximately 0.8% of Ethos Financial Group LLC’s portfolio, making the stock its 24th biggest holding. Ethos Financial Group LLC’s holdings in SPDR Gold Shares were worth $11,319,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Signet Financial Management LLC bought a new stake in shares of SPDR Gold Shares in the first quarter valued at approximately $219,000. SouthState Bank Corp increased its position in SPDR Gold Shares by 1.7% during the first quarter. SouthState Bank Corp now owns 2,856 shares of the exchange traded fund’s stock worth $1,229,000 after acquiring an additional 47 shares during the period. Meridian Management Co. acquired a new position in SPDR Gold Shares during the 1st quarter valued at $215,000. Conservest Capital Advisors Inc. raised its stake in SPDR Gold Shares by 1.5% during the 1st quarter. Conservest Capital Advisors Inc. now owns 30,142 shares of the exchange traded fund’s stock valued at $12,970,000 after purchasing an additional 440 shares during the last quarter. Finally, 1ST Source Bank raised its stake in SPDR Gold Shares by 12.6% during the 1st quarter. 1ST Source Bank now owns 17,180 shares of the exchange traded fund’s stock valued at $7,392,000 after purchasing an additional 1,929 shares during the last quarter. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

NYSEARCA GLD opened at $372.15 on Wednesday. The company’s fifty day moving average is $397.55 and its two-hundred day moving average is $425.73. SPDR Gold Shares has a 52-week low of $300.95 and a 52-week high of $509.70. The firm has a market capitalization of $130.70 billion, a price-to-earnings ratio of -32.43 and a beta of 0.17.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Gold rallied after the June CPI report came in weaker than expected, easing pressure on the Federal Reserve and supporting bullion prices. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rallies As U.S. Inflation Rate Misses Estimates
• Positive Sentiment: Gold climbed off an eight-month low as the dollar and yields weakened, improving the outlook for gold-backed ETFs like GLD. Gold Rises Off an Eight-Month Low, Dollar Falls after US Consumer Prices Eased in June
• Positive Sentiment: Gold prices jumped toward the $4,100 level after the inflation report, with traders seeing room for the Fed to keep rates unchanged, a constructive setup for bullion. Gold prices surging higher to test resistance at $4,100 following sharp drop in U.S. inflation
• Neutral Sentiment: Some analysts say gold’s rebound may be just noise unless buyers can break key resistance levels, suggesting the move could remain choppy. VanEck’s Casanova sees gold’s pullback as noise, says mining stocks remain the standout trade
• Negative Sentiment: Gold remains below key technical resistance in some forecasts, and broader bearish trends in yields and risk sentiment have kept pressure on the metal recently. Gold (XAU/USD) Price Forecast: Bears Defend Key Resistance Zone
• Negative Sentiment: Gold had also been pressured earlier by rising global bond yields and concerns that a more hawkish Fed could keep rates elevated, which can weigh on GLD. Gold Declines Amid Broad Rise in Yields, Monetary Policy Concerns

About SPDR Gold Shares

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.