Empowered Funds LLC Grows Stock Position in SPDR Gold Shares $GLD

Empowered Funds LLC raised its position in SPDR Gold Shares (NYSEARCA:GLD) by 1,731.4% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,857 shares of the exchange traded fund’s stock after buying an additional 2,701 shares during the quarter. Empowered Funds LLC’s holdings in SPDR Gold Shares were worth $1,229,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in GLD. Prepared Retirement Institute LLC raised its stake in SPDR Gold Shares by 1.6% in the 4th quarter. Prepared Retirement Institute LLC now owns 1,328 shares of the exchange traded fund’s stock valued at $526,000 after acquiring an additional 21 shares during the period. Hughes Financial Services LLC boosted its position in SPDR Gold Shares by 3.4% during the fourth quarter. Hughes Financial Services LLC now owns 667 shares of the exchange traded fund’s stock worth $264,000 after purchasing an additional 22 shares during the period. Steigerwald Gordon & Koch Inc. boosted its position in SPDR Gold Shares by 28.7% during the fourth quarter. Steigerwald Gordon & Koch Inc. now owns 112 shares of the exchange traded fund’s stock worth $44,000 after purchasing an additional 25 shares during the period. Leisure Capital Management increased its stake in shares of SPDR Gold Shares by 1.9% in the fourth quarter. Leisure Capital Management now owns 1,371 shares of the exchange traded fund’s stock worth $543,000 after purchasing an additional 25 shares in the last quarter. Finally, Parr Mcknight Wealth Management Group LLC increased its stake in shares of SPDR Gold Shares by 3.3% in the fourth quarter. Parr Mcknight Wealth Management Group LLC now owns 772 shares of the exchange traded fund’s stock worth $306,000 after purchasing an additional 25 shares in the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Up 2.3%

NYSEARCA GLD opened at $398.47 on Friday. The company’s 50 day moving average is $381.05 and its 200-day moving average is $421.14. SPDR Gold Shares has a 12-month low of $305.19 and a 12-month high of $509.70. The firm has a market cap of $140.70 billion, a P/E ratio of -32.43 and a beta of 0.17.

SPDR Gold Shares News Summary

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 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.