Palumbo Wealth Management LLC Has $15.50 Million Position in SPDR Gold Shares $GLD

Palumbo Wealth Management LLC lowered its stake in shares of SPDR Gold Shares (NYSEARCA:GLD) by 17.1% during the third quarter, Holdings Channel reports. The fund owned 43,599 shares of the exchange traded fund’s stock after selling 8,962 shares during the period. SPDR Gold Shares makes up approximately 4.0% of Palumbo Wealth Management LLC’s holdings, making the stock its 3rd biggest holding. Palumbo Wealth Management LLC’s holdings in SPDR Gold Shares were worth $15,498,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Chapman Financial Group LLC acquired a new position in shares of SPDR Gold Shares during the second quarter worth approximately $26,000. Hopwood Financial Services Inc. bought a new position in SPDR Gold Shares in the 3rd quarter worth approximately $27,000. Steigerwald Gordon & Koch Inc. bought a new position in SPDR Gold Shares in the 3rd quarter worth approximately $31,000. Traub Capital Management LLC acquired a new position in SPDR Gold Shares during the 2nd quarter worth $34,000. Finally, Kilter Group LLC bought a new position in SPDR Gold Shares in the 2nd quarter valued at $34,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

NYSEARCA GLD opened at $481.28 on Tuesday. The stock has a market capitalization of $182.93 billion, a P/E ratio of -32.43 and a beta of 0.09. SPDR Gold Shares has a 52 week low of $261.25 and a 52 week high of $509.70. The stock has a fifty day moving average of $434.51 and a 200-day moving average of $383.81.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: Tariff and trade-policy uncertainty has lifted safe-haven demand for gold, driving prices and supporting GLD. Read More.
• Positive Sentiment: Geopolitical risk (Iran talks and other tensions) is underpinning haven flows into gold despite some short-term fading of the bid. Read More.
• Positive Sentiment: Central bank buying and bullish analyst forecasts (UBS sees gold substantially higher by mid‑year) add structural demand that supports GLD over the medium term. Read More.
• Neutral Sentiment: Technical momentum and breakout dynamics are attracting traders; short-term volatility remains elevated as market participants reposition. Read More.
• Neutral Sentiment: Precious‑metals miners and related stocks have rallied alongside bullion, amplifying market attention but not changing GLD’s underlying exposure to gold price moves. Read More.
• Negative Sentiment: Hawkish Fed signals and profit‑taking have caused intraday pullbacks in gold; higher U.S. rates or stronger dollar would pressure GLD. Read More.
• Negative Sentiment: Some strategists warn of mean‑reversion (sell gold, buy Treasuries) if risk sentiment normalizes, which could weigh on GLD. Read More.
• Negative Sentiment: Large sovereign or commercial gold sales (e.g., reported Russian sales) can add supply pressure and cap upside in the near term. Read More.

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.