SPDR Gold Shares $GLD Stock: Commonwealth Equity Services LLC Cuts Stake

Commonwealth Equity Services LLC cut its position in SPDR Gold Shares (NYSEARCA:GLD) by 6.1% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 770,041 shares of the exchange traded fund’s stock after selling 50,180 shares during the quarter. Commonwealth Equity Services LLC’s holdings in SPDR Gold Shares were worth $293,262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Livelsberger Financial Advisory bought a new position in SPDR Gold Shares in the 3rd quarter worth about $30,000. Parvin Asset Management LLC acquired a new stake in shares of SPDR Gold Shares in the first quarter valued at approximately $31,000. NBH Bank bought a new stake in shares of SPDR Gold Shares during the second quarter valued at approximately $41,000. Trust Co. of Vermont bought a new stake in shares of SPDR Gold Shares during the second quarter valued at approximately $43,000. Finally, IMG Wealth Management Inc. raised its holdings in shares of SPDR Gold Shares by 440.9% during the third quarter. IMG Wealth Management Inc. now owns 119 shares of the exchange traded fund’s stock valued at $45,000 after buying an additional 97 shares during the last quarter. 42.19% of the stock is owned by institutional investors and hedge funds.

Key SPDR Gold Shares News

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

• Positive Sentiment: Gold’s rally continued, with reports citing softer yields and a weaker dollar as drivers. The World Bank also expects gold to stay above $4,000 an ounce through 2028, while central-bank purchases remain a source of demand. Gold climbs above $4,100 as falling yields, softer labor costs support bullion World Bank gold outlook
• Neutral Sentiment: Technical commentary described a possible bullish reversal after gold reclaimed resistance, but noted that the broader downtrend and resistance levels could constrain the recovery. Gold bullish reversal forecast
• Negative Sentiment: Elevated real yields and upcoming U.S. jobs data could weaken gold’s momentum if they bolster expectations for tighter monetary policy. Gold also faces resistance near $4,200. Gold faces $4,200 barrier

SPDR Gold Shares Trading Up 0.8%

Shares of NYSEARCA GLD opened at $375.49 on Friday. The stock has a 50 day simple moving average of $385.96 and a 200-day simple moving average of $411.85. The company has a market cap of $137.09 billion, a PE ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a 12-month low of $354.67 and a 12-month high of $509.70.

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.