Charles Schwab Trust Co Purchases New Stake in SPDR Gold Shares $GLD

Charles Schwab Trust Co acquired a new position in SPDR Gold Shares (NYSEARCA:GLD) in the second quarter, HoldingsChannel.com reports. The institutional investor acquired 4,100 shares of the exchange traded fund’s stock, valued at approximately $1,510,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Brighton Jones LLC grew its holdings in SPDR Gold Shares by 20.4% during the 4th quarter. Brighton Jones LLC now owns 11,246 shares of the exchange traded fund’s stock worth $2,723,000 after acquiring an additional 1,903 shares during the period. Bison Wealth LLC lifted its stake in shares of SPDR Gold Shares by 77.8% in the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after purchasing an additional 2,600 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC bought a new position in shares of SPDR Gold Shares in the 1st quarter worth $16,014,000. Schnieders Capital Management LLC. boosted its position in shares of SPDR Gold Shares by 4.8% in the 2nd quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock worth $1,829,000 after purchasing an additional 275 shares during the last quarter. Finally, Prudential Financial Inc. acquired a new stake in shares of SPDR Gold Shares during the second quarter worth $337,000. 42.19% of the stock is owned by institutional investors.

Key Stories Impacting SPDR Gold Shares

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

• Positive Sentiment: Weak U.S. jobs data reduced expectations for further Federal Reserve tightening, pressuring the dollar and Treasury yields while improving the appeal of non-yielding gold. Analysts cited potential upside targets for gold and silver. Gold and Silver Price Forecast: Jobs Shock Boosts Gold, Silver Eyes $65.20
• Positive Sentiment: Lower yields, strong central-bank demand and renewed investor inflows are giving gold ETFs additional momentum, directly supporting the outlook for GLD. Gold ETF Rally Gains Momentum: Will It Sustain?
• Positive Sentiment: Sprott’s Maria Smirnova said gold’s months-long decline was a correction rather than a trend reversal. Rising government debt, large fiscal deficits, central-bank buying and geopolitical fragmentation could reinforce gold’s long-term strategic role. Price correction improved the long-term risk-reward profile for gold and silver
• Positive Sentiment: One fund manager said gold’s nearly $300 breakout rally could lead to further gains, including a possible return toward $5,000 per ounce over the next two years. Gold could reclaim $5,000 an ounce in two years
• Neutral Sentiment: Gold is consolidating above a key 200-day technical average, with traders watching for confirmation that the recent bullish momentum will continue. Gold Price Analysis: Gold Consolidates Above 200-Day EMA
• Negative Sentiment: Upcoming U.S. CPI and PPI reports could drive volatility. Hotter-than-expected inflation may lift yields and the dollar, potentially limiting gold’s rebound, while technical resistance remains a hurdle. Weak Dollar Supports Rebound Ahead of U.S. CPI

SPDR Gold Shares Trading Up 1.0%

NYSEARCA GLD opened at $402.54 on Tuesday. The stock has a 50-day simple moving average of $380.88 and a 200 day simple moving average of $420.90. The company has a market capitalization of $142.14 billion, a PE ratio of -32.43 and a beta of 0.17. SPDR Gold Shares has a 12 month low of $305.19 and a 12 month high of $509.70.

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.