MinichMacGregor Wealth Management LLC decreased its position in SPDR Gold Shares (NYSEARCA:GLD – Free Report) by 31.4% during the third quarter, Holdings Channel reports. The firm owned 61,468 shares of the exchange traded fund’s stock after selling 28,163 shares during the quarter. SPDR Gold Shares comprises 3.9% of MinichMacGregor Wealth Management LLC’s portfolio, making the stock its 2nd largest holding. MinichMacGregor Wealth Management LLC’s holdings in SPDR Gold Shares were worth $23,410,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of GLD. Viewpoint Capital Management LLC boosted its position in SPDR Gold Shares by 2.8% in the 1st quarter. Viewpoint Capital Management LLC now owns 925 shares of the exchange traded fund’s stock valued at $398,000 after buying an additional 25 shares during the period. Summer Road LLC raised its holdings in shares of SPDR Gold Shares by 11.1% in the 1st quarter. Summer Road LLC now owns 250 shares of the exchange traded fund’s stock valued at $108,000 after purchasing an additional 25 shares in the last quarter. SFE Investment Counsel grew its stake in shares of SPDR Gold Shares by 4.5% during the first quarter. SFE Investment Counsel now owns 585 shares of the exchange traded fund’s stock worth $252,000 after purchasing an additional 25 shares in the last quarter. Evolution Wealth Management Inc. raised its position in shares of SPDR Gold Shares by 2.3% during the 1st quarter. Evolution Wealth Management Inc. now owns 1,200 shares of the exchange traded fund’s stock worth $516,000 after acquiring an additional 27 shares in the last quarter. Finally, Financial Management Professionals Inc. boosted its holdings in SPDR Gold Shares by 0.6% in the second quarter. Financial Management Professionals Inc. now owns 4,414 shares of the exchange traded fund’s stock valued at $1,626,000 after purchasing an additional 27 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.
SPDR Gold Shares Trading Down 2.0%
Shares of NYSEARCA GLD traded down $7.47 during mid-day trading on Wednesday, reaching $374.20. The company had a trading volume of 5,201,700 shares, compared to its average volume of 11,585,320. The firm has a 50 day simple moving average of $398.09 and a two-hundred day simple moving average of $401.25. SPDR Gold Shares has a 52-week low of $360.12 and a 52-week high of $509.70. The stock has a market cap of $138.15 billion, a P/E ratio of -32.43 and a beta of 0.18.
Trending Headlines about SPDR Gold Shares
- Positive Sentiment: Persistent inflation could support gold’s longer-term appeal as a hedge against purchasing-power erosion, while investment demand for gold-backed ETFs has remained resilient despite elevated yields. Gold price needs a dovish Fed or renewed debasement fears to reverse its downtrend
- Neutral Sentiment: Gold is testing an important technical demand zone around $4,000–$4,200. Holding this area could stabilize GLD, while a recovery above nearby resistance would improve the technical outlook. Gold Tests $4,200-$4,000 Demand Zone as CPI Revives Inflation Concerns
- Negative Sentiment: Accelerating U.S. inflation is reinforcing expectations that the Fed may raise interest rates before year-end. Higher Treasury yields increase the opportunity cost of holding gold, which does not generate income, and are pressuring prices toward key support levels. Gold price drops to session lows as U.S. CPI heats up in September
- Negative Sentiment: Gold also faces potential supply and demand pressure after Kazakhstan said it plans to sell part of its large gold reserves while elevated Treasury yields make dollar assets more attractive. Kazakhstan plans gold sales as holdings reach 78% of reserves
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.
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