Krilogy Financial LLC Has $1.70 Million Stake in SPDR Gold Shares $GLD

Krilogy Financial LLC reduced its position in SPDR Gold Shares (NYSEARCA:GLD) by 36.0% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,852 shares of the exchange traded fund’s stock after selling 2,170 shares during the period. Krilogy Financial LLC’s holdings in SPDR Gold Shares were worth $1,695,000 at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Corient Private Wealth LLC raised its holdings in SPDR Gold Shares by 571.3% during the fourth quarter. Corient Private Wealth LLC now owns 3,949,227 shares of the exchange traded fund’s stock worth $1,565,118,000 after buying an additional 3,360,966 shares during the last quarter. Morgan Stanley grew its holdings 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 valued at $5,506,229,000 after buying an additional 2,539,266 shares during the last quarter. Bank of Montreal Can bought a new stake in shares of SPDR Gold Shares during the third quarter worth about $556,282,000. Virtu Financial LLC bought a new stake in shares of SPDR Gold Shares during the fourth quarter worth about $474,952,000. Finally, Marino Management LLC bought a new stake in shares of SPDR Gold Shares during the fourth quarter worth about $438,475,000. Institutional investors and hedge funds own 42.19% of the company’s stock.

SPDR Gold Shares News Roundup

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

• Positive Sentiment: Gold-backed ETFs saw their biggest weekly inflow since April, suggesting some investors are buying the dip in bullion exposure even after several weeks of outflows. Gold ETFs Just Saw Their Biggest Weekly Inflow Since April After $7.6 Billion Exodus
• Neutral Sentiment: Some analysts still argue the long-term gold bull market is not necessarily over, even though the metal is in a deep correction and struggling to hold key support around $4,000 an ounce. Gold’s 28% correction is painful, but history suggests the bull market isn’t over
• Neutral Sentiment: China’s gold imports hit a 26-month high in May, showing strong physical demand in the world’s largest gold market despite the recent price decline. China gold imports hit 26-month high in May, up 76% YTD
• Negative Sentiment: Gold broke below long-term support and key technical levels, raising the risk of a deeper correction and reinforcing the near-term bearish trend for GLD. Gold (XAU/USD) Price Forecast: Breakdown Signals Risk of Deeper Correction
• Negative Sentiment: Several reports say gold has slipped below $4,000 an ounce, with banks cutting forecasts as a stronger dollar, higher yields, and reduced safe-haven demand weigh on prices. ING Cuts Gold and Silver Forecasts as Rising Yields and Stronger Dollar Weigh on Prices
• Negative Sentiment: Gold fell to a seven-month low as the dollar strengthened on inflation and Fed-policy worries, which is the main reason GLD is trading lower today. Update: Gold Falls to a Seven-Month Low as the Dollar Climbs on Inflation Worries

SPDR Gold Shares Price Performance

GLD opened at $365.92 on Thursday. SPDR Gold Shares has a fifty-two week low of $299.89 and a fifty-two week high of $509.70. The firm has a market capitalization of $133.09 billion, a PE ratio of -32.43 and a beta of 0.14. The company’s 50-day moving average is $413.92 and its 200 day moving average is $428.01.

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.