SPDR Gold Shares $GLD Stock Sold by Bank Pictet & Cie Europe AG

Bank Pictet & Cie Europe AG reduced its holdings in SPDR Gold Shares (NYSEARCA:GLD) by 43.8% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,873 shares of the exchange traded fund’s stock after selling 20,941 shares during the quarter. Bank Pictet & Cie Europe AG’s holdings in SPDR Gold Shares were worth $10,194,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Lazari Capital Management Inc. raised its holdings in SPDR Gold Shares by 21.9% during the 3rd quarter. Lazari Capital Management Inc. now owns 3,600 shares of the exchange traded fund’s stock worth $1,371,000 after buying an additional 646 shares during the period. Net Worth Advisory Group boosted its holdings in shares of SPDR Gold Shares by 10.0% in the third quarter. Net Worth Advisory Group now owns 2,582 shares of the exchange traded fund’s stock valued at $988,000 after buying an additional 234 shares during the period. Parkway Wealth Management Group LLC increased its position in shares of SPDR Gold Shares by 3.0% during the third quarter. Parkway Wealth Management Group LLC now owns 1,965 shares of the exchange traded fund’s stock worth $748,000 after acquiring an additional 58 shares in the last quarter. Jeppson Wealth Management LLC increased its position in shares of SPDR Gold Shares by 2.7% during the third quarter. Jeppson Wealth Management LLC now owns 7,008 shares of the exchange traded fund’s stock worth $2,669,000 after acquiring an additional 187 shares in the last quarter. Finally, Smithbridge Asset Management Inc. DE raised its holdings in shares of SPDR Gold Shares by 18.8% during the third quarter. Smithbridge Asset Management Inc. DE now owns 3,800 shares of the exchange traded fund’s stock worth $1,447,000 after acquiring an additional 600 shares during the period. Institutional investors and hedge funds own 42.19% of the company’s stock.

More SPDR Gold Shares News

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

• Positive Sentiment: Longer-term support remains intact. CIBC expects central-bank buying and continued diversification away from the dollar to support gold, forecasting a recovery toward $5,200 an ounce in 2027 despite cutting its near-term price estimates. CIBC gold forecast article
• Positive Sentiment: Investors and market commentators continue to highlight gold as a hedge against inflation, currency weakness and geopolitical or jurisdictional risk. Potential lending products backed by gold could also increase the asset’s usefulness for investors. Gold as an inflation hedge article
• Neutral Sentiment: Gold remains range-bound, with support around $4,000-$4,119 and resistance near $4,200-$4,260. A break above resistance could improve GLD’s outlook, while a failure to hold support would signal additional downside. Gold demand zone analysis
• Negative Sentiment: Rebounding real Treasury yields, elevated nominal yields and a firmer dollar are limiting demand for gold. Markets are assigning high odds to a December rate increase, increasing the opportunity cost of holding GLD. Gold and December rate hike forecast
• Negative Sentiment: Gold has struggled to attract safe-haven buying even after weak U.S. housing data, suggesting that rate and currency pressures currently outweigh recession concerns. Gold and U.S. housing data article
• Negative Sentiment: Investor flows may also be favoring a cheaper SPDR gold fund over GLD, creating a potential fee-related competitive disadvantage for the larger ETF. Cheaper SPDR gold fund article

SPDR Gold Shares Stock Down 0.6%

Shares of NYSEARCA:GLD traded down $2.19 during midday trading on Tuesday, reaching $377.50. 3,761,609 shares of the company were exchanged, compared to its average volume of 11,513,929. The firm has a market cap of $139.53 billion, a PE ratio of -32.43 and a beta of 0.18. SPDR Gold Shares has a fifty-two week low of $360.12 and a fifty-two week high of $509.70. The stock has a fifty day simple moving average of $396.89 and a two-hundred day simple moving average of $400.27.

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.