SPDR Gold Shares $GLD Stock Position Lessened by Hyundai Investments Co. Ltd.

Hyundai Investments Co. Ltd. cut its stake in SPDR Gold Shares (NYSEARCA:GLD) by 70.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,504 shares of the exchange traded fund’s stock after selling 5,925 shares during the quarter. SPDR Gold Shares accounts for about 1.0% of Hyundai Investments Co. Ltd.’s investment portfolio, making the stock its 3rd largest holding. Hyundai Investments Co. Ltd.’s holdings in SPDR Gold Shares were worth $923,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Washington Trust Advisors Inc. lifted its holdings in shares of SPDR Gold Shares by 3.7% during the 2nd quarter. Washington Trust Advisors Inc. now owns 1,558 shares of the exchange traded fund’s stock valued at $574,000 after buying an additional 55 shares during the period. Ameritas Advisory Services LLC lifted its holdings in SPDR Gold Shares by 77.2% in the second quarter. Ameritas Advisory Services LLC now owns 42,170 shares of the exchange traded fund’s stock valued at $15,535,000 after acquiring an additional 18,374 shares during the period. Guardian Wealth Advisors LLC NC lifted its holdings in SPDR Gold Shares by 105.8% in the second quarter. Guardian Wealth Advisors LLC NC now owns 3,340 shares of the exchange traded fund’s stock valued at $1,230,000 after acquiring an additional 1,717 shares during the period. Kintra Wealth LLC boosted its position in SPDR Gold Shares by 23.4% in the second quarter. Kintra Wealth LLC now owns 1,747 shares of the exchange traded fund’s stock worth $697,000 after purchasing an additional 331 shares during the last quarter. Finally, PCG Wealth Advisors LLC boosted its position in SPDR Gold Shares by 2.2% in the second quarter. PCG Wealth Advisors LLC now owns 24,802 shares of the exchange traded fund’s stock worth $9,136,000 after purchasing an additional 545 shares during the last quarter. 42.19% of the stock is owned by hedge funds and other institutional investors.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold recovered from its initial selloff, suggesting continued buying interest despite the stronger jobs report. Investors remain focused on inflation, fiscal risks and central-bank demand as longer-term supports for gold and GLD. Gold claws back from brutal jobs selloff as markets brace for key inflation data
• Positive Sentiment: Invesco said rising government debt and a global bond-market selloff are encouraging investors to treat gold as a strategic portfolio allocation rather than merely a short-term trade. That supports sustained demand for a physically backed ETF such as GLD. Rising gold price and spiking global yields reflect investor fears about skyrocketing debt levels
• Positive Sentiment: Gold’s recent rally has been attributed primarily to investment flows, while July central-bank purchases totaled 23 metric tons, led by China and Poland. Continued official-sector and investment demand provide fundamental support for GLD. Central banks add 23 net tonnes of gold in July
• Neutral Sentiment: The Netherlands’ transfer of roughly 86 tons of gold from New York and Ottawa to London, citing geopolitical risk and crisis preparedness, highlights persistent official concern about reserve security but does not directly change GLD’s holdings. Dutch central bank moves gold bars out of U.S. and Canada
• Negative Sentiment: The U.S. economy created 162,000 jobs in August, exceeding expectations. The stronger labor market lifted yields and reduced expectations for near-term monetary easing, pressuring gold and GLD. Gold price hit with major selling as U.S. economy creates 162K jobs
• Negative Sentiment: Technical analysts warned that higher rates could keep gold testing its 50-day moving average. Additional evidence of persistent economic strength or elevated inflation could extend short-term pressure on GLD. Gold tests 50-day EMA as strong U.S. jobs data lifts rates

SPDR Gold Shares Price Performance

SPDR Gold Shares stock opened at $406.77 on Monday. The business has a 50-day simple moving average of $388.97 and a two-hundred day simple moving average of $414.27. The company has a market cap of $143.63 billion, a P/E ratio of -32.43 and a beta of 0.19. SPDR Gold Shares has a 52-week low of $326.19 and a 52-week 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.