Rockland Trust Co. Sells 5,609 Shares of SPDR Gold Shares $GLD

Rockland Trust Co. cut its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 2.0% in the 2nd quarter, Holdings Channel reports. The fund owned 269,394 shares of the exchange traded fund’s stock after selling 5,609 shares during the quarter. SPDR Gold Shares accounts for approximately 3.9% of Rockland Trust Co.’s portfolio, making the stock its 4th biggest position. Rockland Trust Co.’s holdings in SPDR Gold Shares were worth $99,239,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in the stock. Calder Financial LLC acquired a new position in SPDR Gold Shares during the fourth quarter worth about $807,000. Crescent Grove Advisors LLC lifted its position in shares of SPDR Gold Shares by 25.3% during the 4th quarter. Crescent Grove Advisors LLC now owns 15,719 shares of the exchange traded fund’s stock valued at $6,230,000 after acquiring an additional 3,175 shares during the period. Arcus Capital Partners LLC lifted its position in shares of SPDR Gold Shares by 90.3% during the 1st quarter. Arcus Capital Partners LLC now owns 8,442 shares of the exchange traded fund’s stock valued at $3,633,000 after acquiring an additional 4,005 shares during the period. Cidel Asset Management Inc. boosted its stake in shares of SPDR Gold Shares by 69.8% during the 1st quarter. Cidel Asset Management Inc. now owns 3,368 shares of the exchange traded fund’s stock worth $1,449,000 after acquiring an additional 1,384 shares in the last quarter. Finally, Geneva Partners LLC grew its holdings in shares of SPDR Gold Shares by 3.4% in the 4th quarter. Geneva Partners LLC now owns 36,728 shares of the exchange traded fund’s stock worth $14,556,000 after acquiring an additional 1,203 shares during the period. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares Price Performance

NYSEARCA GLD opened at $398.47 on Friday. The business has a 50 day moving average price of $381.05 and a 200 day moving average price of $421.14. The company has a market capitalization of $140.70 billion, a P/E ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 1-year low of $305.19 and a 1-year high of $509.70.

Trending Headlines about SPDR Gold Shares

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

• Positive Sentiment: Gold surged toward the $4,350-per-ounce area after the weak jobs report, marking its strongest weekly performance since early in the year and providing the primary catalyst for GLD’s advance. Gold prices surging higher as U.S. economy loses 23k jobs in July
• Positive Sentiment: Investors are increasingly positioning for lower interest rates, with falling yields and a weaker dollar supporting gold and other precious metals. Gold rallies as traders bet on dovish Fed
• Positive Sentiment: Central-bank demand remains a tailwind: the People’s Bank of China made its largest monthly gold purchase since 2023 and has now bought gold for 21 consecutive months. PBOC boosts gold buying with largest monthly purchase since 2023
• Positive Sentiment: Gold-backed ETFs recorded renewed inflows in July after two months of outflows, suggesting investor demand for products such as GLD is improving. Gold market sees positive ETF inflows in July
• Neutral Sentiment: Technical momentum has improved, but analysts identify the $4,382–$4,392 area and higher resistance near $4,494 as important tests; failure to hold the breakout could trigger a pullback. Gold breakout builds toward key resistance
• Negative Sentiment: Gold remains well below its January record, and some investors have taken profits. A new study also questions gold’s effectiveness as a long-term inflation hedge, which could temper demand. If you buy gold to protect against inflation, you’re doing it wrong

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.