Empirical Finance LLC Has $2.13 Million Position in SPDR Gold Shares $GLD

Empirical Finance LLC cut its stake in SPDR Gold Shares (NYSEARCA:GLD) by 33.6% during the 1st quarter, Holdings Channel.com reports. The firm owned 4,945 shares of the exchange traded fund’s stock after selling 2,500 shares during the period. Empirical Finance LLC’s holdings in SPDR Gold Shares were worth $2,128,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently modified their holdings of the stock. Corient Private Wealth LLC grew its stake in SPDR Gold Shares by 571.3% in the 4th quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock valued at $1,565,118,000 after buying an additional 3,360,966 shares during the last quarter. Morgan Stanley increased its stake in shares of SPDR Gold Shares by 22.4% during the fourth quarter. Morgan Stanley now owns 13,893,741 shares of the exchange traded fund’s stock worth $5,506,229,000 after purchasing an additional 2,539,266 shares during the period. Virtu Financial LLC acquired a new stake in SPDR Gold Shares during the 4th quarter worth approximately $474,952,000. Marino Management LLC bought a new stake in SPDR Gold Shares in the 4th quarter valued at $438,475,000. Finally, Diamant Asset Management Inc. boosted its stake in SPDR Gold Shares by 42,929.0% in the 1st quarter. Diamant Asset Management Inc. now owns 697,070 shares of the exchange traded fund’s stock valued at $299,942,000 after purchasing an additional 695,450 shares during the period. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares Price Performance

Shares of NYSEARCA GLD opened at $371.90 on Friday. The stock’s fifty day moving average price is $388.19 and its two-hundred day moving average price is $423.83. SPDR Gold Shares has a one year low of $300.95 and a one year high of $509.70. The firm has a market cap of $131.06 billion, a price-to-earnings 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 is holding above the important $4,000 level, suggesting buyers are still stepping in on dips and that the market may be forming a base. Gold continues to hold $4,000, which could signal inflection point, analysts say
• Positive Sentiment: China’s June gold imports hit a two-year high, signaling strong physical demand from the world’s largest bullion market. China’s June gold imports hit fresh two-year high of 173 tonnes as lower prices boost demand
• Positive Sentiment: Lower Treasury yields and a pullback in oil prices have helped gold rebound intraday, reinforcing its role as a defensive asset. Gold (XAUUSD), Silver, Platinum Forecasts – Gold Rebounds As Oil Prices Pull Back
• Positive Sentiment: ETF flow data show investors rotating toward commodities and other defensive exposures, which can support demand for gold-backed funds like GLD. The Defensive Shift: This Week’s Top 10 ETF Inflows

About SPDR Gold Shares

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.