Westside Investment Management Inc. Buys 2,036 Shares of SPDR Gold Shares $GLD

Westside Investment Management Inc. grew its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 11.3% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 20,102 shares of the exchange traded fund’s stock after buying an additional 2,036 shares during the period. SPDR Gold Shares accounts for approximately 0.9% of Westside Investment Management Inc.’s holdings, making the stock its 24th biggest holding. Westside Investment Management Inc.’s holdings in SPDR Gold Shares were worth $7,655,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Bank of Korea purchased a new stake in SPDR Gold Shares during the second quarter valued at about $250,411,831. CI Investments Inc. raised its holdings in shares of SPDR Gold Shares by 96.7% in the 1st quarter. CI Investments Inc. now owns 282,364 shares of the exchange traded fund’s stock worth $121,498,000 after purchasing an additional 138,846 shares during the period. Fifth Third Bancorp raised its holdings in shares of SPDR Gold Shares by 83.0% in the 1st quarter. Fifth Third Bancorp now owns 298,497 shares of the exchange traded fund’s stock worth $128,440,000 after purchasing an additional 135,373 shares during the period. Public Employees Retirement System of Ohio purchased a new position in shares of SPDR Gold Shares in the 1st quarter worth about $46,816,000. Finally, International Assets Investment Management LLC raised its holdings in shares of SPDR Gold Shares by 1,034.0% in the 3rd quarter. International Assets Investment Management LLC now owns 115,000 shares of the exchange traded fund’s stock worth $43,797,000 after purchasing an additional 104,859 shares during the period. 42.19% of the stock is currently owned by institutional investors and hedge funds.

Key Headlines Impacting SPDR Gold Shares

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 Price Performance

NYSEARCA GLD opened at $375.49 on Friday. The firm has a market capitalization of $137.09 billion, a P/E ratio of -32.43 and a beta of 0.20. SPDR Gold Shares has a 1-year low of $354.67 and a 1-year high of $509.70. The business’s 50-day simple moving average is $385.96 and its 200-day simple moving average is $411.85.

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.