SPDR Gold Shares $GLD Shares Sold by Milestone Asset Management LLC

Milestone Asset Management LLC decreased its position in SPDR Gold Shares (NYSEARCA:GLD) by 54.7% during the 3rd quarter, Holdings Channel reports. The fund owned 2,580 shares of the exchange traded fund’s stock after selling 3,116 shares during the quarter. Milestone Asset Management LLC’s holdings in SPDR Gold Shares were worth $983,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in GLD. Ellsworth Advisors LLC grew its position in shares of SPDR Gold Shares by 0.3% in the 3rd quarter. Ellsworth Advisors LLC now owns 46,795 shares of the exchange traded fund’s stock valued at $17,821,000 after buying an additional 155 shares during the last quarter. Legacy Wealth Partners LLC raised its stake in SPDR Gold Shares by 10.8% during the 3rd quarter. Legacy Wealth Partners LLC now owns 3,223 shares of the exchange traded fund’s stock worth $1,227,000 after acquiring an additional 313 shares in the last quarter. AdvisorNet Financial Inc lifted its position in SPDR Gold Shares by 2.7% in the third quarter. AdvisorNet Financial Inc now owns 60,403 shares of the exchange traded fund’s stock valued at $22,711,000 after acquiring an additional 1,581 shares during the last quarter. Saxony Capital Management LLC lifted its position in SPDR Gold Shares by 5.9% in the third quarter. Saxony Capital Management LLC now owns 4,591 shares of the exchange traded fund’s stock valued at $1,748,000 after acquiring an additional 254 shares during the last quarter. Finally, Weaver Capital Management LLC lifted its position in SPDR Gold Shares by 8.6% in the third quarter. Weaver Capital Management LLC now owns 4,985 shares of the exchange traded fund’s stock valued at $1,898,000 after acquiring an additional 396 shares during the last quarter. Hedge funds and other institutional investors own 42.19% of the company’s stock.

SPDR Gold Shares Stock Performance

GLD opened at $382.71 on Friday. The business’s 50-day simple moving average is $397.68 and its 200-day simple moving average is $400.85. SPDR Gold Shares has a one year low of $360.12 and a one year high of $509.70. The stock has a market capitalization of $141.30 billion, a P/E ratio of -32.43 and a beta of 0.18.

Key Headlines Impacting SPDR Gold Shares

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

• Positive Sentiment: China’s central bank added 23 tonnes of gold to its reserves in September, while Chinese gold ETFs recorded strong inflows and holiday demand for jewelry, bars and coins improved. These trends support physical and investment demand for gold. China buys the gold dip as ETF holdings hit record and holiday demand lifts Q4 outlook
• Positive Sentiment: Earlier declines in the U.S. dollar and Treasury yields helped gold rebound, while weaker-than-expected Philadelphia Fed manufacturing data increased demand for defensive assets. Gold rebounds as dollar dives
• Positive Sentiment: Analysts continue to cite central-bank purchases, ETF inflows and potential debasement risks as reasons for a longer-term gold recovery; Jefferies reportedly sees potential for gold to reach $5,000 in 2027. Gold’s weakness is a buying opportunity

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.