SPDR Gold Shares $GLD Shares Sold by Northwestern Mutual Wealth Management Co.

Northwestern Mutual Wealth Management Co. lessened its stake in SPDR Gold Shares (NYSEARCA:GLD) by 57.1% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 197,239 shares of the exchange traded fund’s stock after selling 262,237 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in SPDR Gold Shares were worth $78,168,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of GLD. Bank of Montreal Can acquired a new position in shares of SPDR Gold Shares in the 3rd quarter valued at about $556,282,000. Corient Private Wealth LLC lifted its holdings in shares of SPDR Gold Shares by 108.1% in the 2nd quarter. Corient Private Wealth LLC now owns 1,077,230 shares of the exchange traded fund’s stock valued at $327,500,000 after buying an additional 559,507 shares during the period. Teacher Retirement System of Texas lifted its holdings in shares of SPDR Gold Shares by 103.7% in the 4th quarter. Teacher Retirement System of Texas now owns 568,900 shares of the exchange traded fund’s stock valued at $225,461,000 after buying an additional 289,550 shares during the period. Children s Medical Center Corp acquired a new position in shares of SPDR Gold Shares in the 4th quarter valued at about $88,734,000. Finally, iA Global Asset Management Inc. acquired a new position in shares of SPDR Gold Shares in the 3rd quarter valued at about $77,873,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of GLD stock opened at $417.29 on Monday. The stock has a market cap of $151.77 billion, a PE ratio of -32.43 and a beta of 0.15. SPDR Gold Shares has a 52-week low of $291.78 and a 52-week high of $509.70. The business has a 50-day simple moving average of $435.54 and a 200-day simple moving average of $423.31.

Key SPDR Gold Shares News

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

• Negative Sentiment: Gold fell further late Friday as the dollar and Treasury yields strengthened, with traders focused on whether the metal can hold the key $4,500 support zone. Silver dives below $76, gold tests $4,500 support as Iran risk drives oil, rate fears – Kitco PM Report
• Negative Sentiment: Technical commentary pointed to a bearish breakdown in gold, raising the risk of a deeper pullback toward major support levels. Gold (XAU/USD) Price Forecast: Bearish Breakdown Targets Major Support
• Negative Sentiment: Market reports said gold broke below $4,600 as rising yields and dollar strength outweighed traditional safe-haven demand. Gold breaks below $4,600 as dollar, yields overpower haven demand – Kitco AM Report
• Negative Sentiment: Additional commentary highlighted that hotter inflation data and a rally in the dollar have weakened bullish momentum in gold. Update: Gold Falls as the USD and Treasury Yields Surge on Inflation Worries
• Neutral Sentiment: Some analysts still noted strong long-term demand from central banks and continued interest in gold ETFs, which could help limit downside over time. Central Banks Are Snapping Up Gold, ETF Investors Are Just Waking Up: The Best Gold ETFs to Own Before It Hits $5,000

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.