RFG Advisory LLC Cuts Holdings in SPDR Gold Shares $GLD

RFG Advisory LLC trimmed its position in SPDR Gold Shares (NYSEARCA:GLD) by 28.3% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 14,323 shares of the exchange traded fund’s stock after selling 5,657 shares during the quarter. RFG Advisory LLC’s holdings in SPDR Gold Shares were worth $5,276,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions 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 valued at $2,723,000 after buying an additional 1,903 shares in the last quarter. Bison Wealth LLC boosted its position in shares of SPDR Gold Shares by 77.8% during the 4th quarter. Bison Wealth LLC now owns 5,941 shares of the exchange traded fund’s stock valued at $1,438,000 after acquiring an additional 2,600 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC purchased a new position in shares of SPDR Gold Shares in the first quarter valued at $16,014,000. Schnieders Capital Management LLC. grew its holdings in shares of SPDR Gold Shares by 4.8% in the second quarter. Schnieders Capital Management LLC. now owns 6,000 shares of the exchange traded fund’s stock valued at $1,829,000 after purchasing an additional 275 shares in the last quarter. Finally, Prudential Financial Inc. bought a new stake in SPDR Gold Shares in the second quarter worth $337,000. 42.19% of the stock is currently owned by hedge funds and other institutional investors.

SPDR Gold Shares Stock Performance

Shares of GLD opened at $403.35 on Thursday. The stock has a market capitalization of $142.42 billion, a PE ratio of -32.43 and a beta of 0.19. The company’s fifty day moving average is $391.01 and its 200 day moving average is $413.17. SPDR Gold Shares has a fifty-two week low of $326.19 and a fifty-two week high of $509.70.

SPDR Gold Shares News Summary

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

• Positive Sentiment: Investors directed approximately $18 billion into gold ETFs during August, according to the World Gold Council, as concerns about rising sovereign debt increased demand for gold as a hedge against fiscal and currency risks. Investors pour $18 billion into gold ETFs in August
• Positive Sentiment: UBS said mounting fiscal concerns, inflation, geopolitical uncertainty and strong sovereign demand support maintaining a meaningful strategic allocation to gold, suggesting pullbacks may attract long-term buyers. UBS gold allocation outlook
• Positive Sentiment: China’s central bank purchased 20.2 tonnes of gold in August, its largest monthly addition since 2023, reinforcing the longer-term official-sector demand supporting GLD’s underlying asset. China central bank gold purchase
• Positive Sentiment: Gold rebounded as traders focused on bond-market stress and bond buybacks, while Middle East tensions continued to support safe-haven demand. Gold rebounds as traders focus on bond buybacks
• Neutral Sentiment: Gold remains technically constrained near major resistance, but analysts at Goldman Sachs and Société Générale continue to describe the broader trend as bullish, citing coordinated ETF, futures, options and physical demand. Société Générale gold outlook
• Negative Sentiment: Higher oil prices, Treasury yields and expectations of a September rate hike remain headwinds for non-yielding gold. Upcoming U.S. PPI and CPI data could increase volatility by changing rate expectations. Gold and silver slip as oil spike keeps Fed-hike trade alive

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.